ECONOMICS

COST ACCOUNTING

INFORMATION FOR DECISION MAKING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the following is an example of a marketing source when searching for information of a product?
A
Friends
B
School Library
C
Product Advertisements
Explanation: 

Detailed explanation-1: -Marketing-controlled information sources include mass media advertising (radio, newspaper, television, and magazine advertising), sales promotion (contests, displays, premiums, and so forth), salespeople, product labels and packaging, and the Internet.

Detailed explanation-2: -Information search is a stage of the decision making process in which consumers actively collect and utilize information from internal and/or external sources to make better purchase decisions. Internal search occurs when consumers access information previously stored in memory.

Detailed explanation-3: -Personal sources that are not marketer dominated include advice from friends and family. Online forums are non-personal sources that are non-marketer dominated.

Detailed explanation-4: -Consumers engage in both internal and external information search. Internal search involves the consumer identifying alternatives from his or her memory.

There is 1 question to complete.