New York SBDC Research Network

From eMarketer : Many consumers turn to online reviews to help inform their decision when researching a big-ticket product, according to new data from YA. In fact, when researching an expensive item—$250 or more—online ratings and reviews were the most common source respondents consulted, more so than word-of-mouth, in-store sales associates or social networks. But interestingly, while favorable reviews certainly affected their decision to buy one item over another, quality and price were more important. Roughly a third (32.4%) of respondents said quality is the primary factor in choosing to purchase a durable item, like a new computer or washing machine, and another 26.6% said price comes first.

From ScienceDaily When companies combine different pricing structures -- such as asking for effort or information in combination with or instead of money -- consumers perceive a greater risk in the decision to buy. That's according to University of Cincinnati research presented at the Aug. 15-17 Behavioral Pricing Conference in Detroit, Mich., by doctoral marketing student John Dinsmore. His paper is titled "Mental Accounting, General Evaluability Theory and the Framing Losses Posed by Partitioned Monetary and Nonmonetary Prices." According to Dinsmore, shoppers routinely arrive at buying decisions by categorizing and evaluating prices, a process known as mental accounting that helps consumers judge a level of loss or sacrifice posed by pricing strategies.

Women buy stuff. And marketers are paying attention. With increasing incomes and more purchasing power within the family, even traditionally male dominated fields are re-examining their approach to female buyers. Just how? Check out this New York Times article from October 2006 . A variety of online resources are popping up to assist the female consumer. Here are two mentioned in the above article: AskPatty.com http://askpatty.com/ According to this site, “Women purchase half of the vehicles sold in the United States each year, spending billions of dollars a year in new car purchases. Yet, shopping for and buying a car can be a challenge for women who are first time car buyers or for women who had a bad experience in the past with a car salesman or dealership. The Ask Patty.com, Inc. web site is a safe place for women to get advice on car purchases, maintenance and other automotive related topics.” BeJane.com http://www.bejane.com The NYT article cites a study from the National Associ...