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Empirical Generalization of Consumer Search June 10, 2007

Posted by jyu in Qualifying.
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1. Overall extent of search is limited for many buyers

2. The # of alternatives seriously considered for purchase is typically a small fraction of the # available (20-25% automobile buyers consider one model and over 90% consider 5 or less models)

3. There is an inverted U-shaped relationship between knowledge and search, with most search taking place at intermediate levels of knowledge (Moorthy, Ratchford, Talukdar 1997)

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