Although it is well-established that advertising can build awareness and stimulate product adoption, it is less clear how advertisements (or other secondhand information sources) interact with information from firsthand experiences to determine repurchase rates. While it is true that consumers rely heavily on their own personal experiences to form subsequent judgments, research in consumer psychology has also shown that advertising and other types of secondhand information (e.g., product reviews) can exert a surprising level of influence on post-consumption decision making. In this article, we discuss specific factors that may help marketers assess whether or not such information will impact consumer behavior.
A consumer purchase map details the decision paths and key interactions customers encounter with a firm or brand as they move throughout the purchase process.
Producing reliable sales forecasts for new products is notoriously difficult. Traditional surveys have been popular for decades but they are relatively...