Buyers' Choice of Online Search Strategy and Its Managerial Implications

Ravi Sen · Ruth C. King · Michael J. Shaw

65 citations0/0 files storedJournal of Management Information Systems

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Consumer Market Behavior and Pricing Digital Marketing and Social Media Information Retrieval and Search Behavior

Abstract

The Internet offers several tools such as shopping bots and search engines that help potential buyers search for lower prices. This paper defines buyers' online search strategy as using one or more of these tools to search for lower prices, and empirically investigates the validity of economics of information search theory in explaining buyers' choice of a particular online search strategy. We find that buyers' attitudes toward the price offered by their preferred online seller, their perception of online price dispersion, and their awareness of shopping agents have a significant effect on their choice of online search strategy. An understanding of buyers' choice of online search strategies can help an online seller to estimate its expected probability of making an online sale, optimize its online pricing, and improve its online promotional and advertising activities.

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References

1972Conditional logit analysis of qualitative choice behavior 1961The Economics of Information 1976The Economics of Information 2000Frictionless Commerce? A Comparison of Internet and Conventional Retailers 1997Reducing Buyer Search Costs: Implications for Electronic Marketplaces 1983A Logit Model of Brand Choice Calibrated on Scanner Data 1981Designing Research for Application 1989The Effect of Price, Brand Name, and Store Name on Buyers' Perceptions of Product Quality: An Integrative Review

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