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← Market Segment Paper on Generation YExxon Mobil Corporation →
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Consumers are faced everyday with tough decisions to make as pertains to the uptake of particular goods or service. The existence in the market of several options ranging from discounts and bargains does not help make matters easy for the consumers. Marketers on the hand have are faced with their own challenges in targeting the appropriate consumer segment. Nelson B., Tim D., Natalia K. (2009) state that “the significance for marketers and retailers is that the amount expended by a market segment and the type of search effort serves as an important determinant for an appropriate marketing strategy.”

Different marketing strategies have been brought that will ensure that both the markets and consumers benefit. Consumers most of the times go through a series of information search before settling to buy a given product. Online marketing has been able to track information search by viewing consumers’ previous trends online. This helps in formulating helpful marketing strategies that are based on these trends. This has helped in increasing online volume sales by online suggesting mostly likely buys to consumers or visitor. Sometimes while doing online shopping; it is likely see banner stating that “people who bought this item also bought…” According Grant, Clarke and Kyriazis (2007) consumer information search can be divided into “(a) information source utility, which focuses information content and format issues online and offline, (b) personal factors that lead to different search behavior for a common product, and (c) product factors that will lead to different behavior by a consumer in the context of different products”

On their part, Nelson B., Tim D., and Natalia K.,(2007) argue that information search behavior  by consumers will be based on internal knowledge factors and external knowledge, the consumers’ behavior and gender (for example women are likely to spend more  than men),  and situational use of the information acquired.

These consumer behaviors based on the consumers search for information should help marketers in coming up with effective strategies in marketing their products. For example, most consumers do not know the price of the products they as documented in the Harvard Business review (2003). Marketers can provide this information readily to consumers to make informed buys.

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