Question

. How do different market characteristics affect a consumer’s information search efforts?

•Price range

•Number of alternatives

•Store Distribution

•Information availability

Answer 1

Ans . Different market characteristics affect a consumer’s information search efforts as follows :

1. Price range

In market different Brands charges different prices according to their goodwill . While comparing the products customer will able to get benefit of selecting a product having low price with similar features by applying its search efforts and save money so it will increase the search efforts.

2. Number of alternatives

There are number of alternatives present in the market for even a single product. So as much as the alternatives available the area of search becomes much wider hence increase the search efforts.

3. Store Distribution

If the stores provide larger varieties of different products at the same place ,and it will increase the search efforts of customers as they are benefited with higher availability of large products at the same place.

4. Information Availability

There is a direct relation or nexus between customer's search effort and information availability. The more the sources of information are available the search efforts will also increase accordingly . And in today's era information is available through various sources as from advertisements, internet , through packaging etc.