Comparison shopping: Difference between revisions
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'''Comparison shopping''' is the [[process]] of comparing the prices, features, and benefits of different products or services in order to determine which is the [[best value]]. | '''Comparison shopping''' is the [[process]] of comparing the prices, features, and benefits of different products or services in order to determine which is the [[best value]]. | ||
* The main purpose of comparison shopping is to locate the best [[product]] or [[service]] at the lowest [[price]]. | * The main purpose of comparison shopping is to locate the best [[product]] or [[service]] at the lowest [[price]]. | ||
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These approaches can help shoppers save money by finding discounts and sales, allowing them to make the most of their money. By [[planning]] ahead, shoppers can save even more money by taking advantage of coupons, clearance items, and sales. Furthermore, loyalty and rewards programs can help shoppers to save even more money over time. | These approaches can help shoppers save money by finding discounts and sales, allowing them to make the most of their money. By [[planning]] ahead, shoppers can save even more money by taking advantage of coupons, clearance items, and sales. Furthermore, loyalty and rewards programs can help shoppers to save even more money over time. | ||
== | {{infobox5|list1={{i5link|a=[[Generic brand]]}} — {{i5link|a=[[Multi-channel distribution]]}} — {{i5link|a=[[High involvement product]]}} — {{i5link|a=[[Retail packaging]]}} — {{i5link|a=[[Distribution strategy]]}} — {{i5link|a=[[Automated valuation model]]}} — {{i5link|a=[[Price setting]]}} — {{i5link|a=[[Convenience product]]}} — {{i5link|a=[[Micropayment]]}} }} | ||
==References== | |||
* Wilde, L. L., & Schwartz, A. (1979). ''[https://www.jstor.org/stable/pdf/2297020.pdf Equilibrium comparison shopping]''. The Review of Economic Studies, 46(3), 543-553. | * Wilde, L. L., & Schwartz, A. (1979). ''[https://www.jstor.org/stable/pdf/2297020.pdf Equilibrium comparison shopping]''. The Review of Economic Studies, 46(3), 543-553. | ||
* Perdew, J. P., & Burke, K. (1996). ''[https://onlinelibrary.wiley.com/doi/pdf/10.1002/(SICI)1097-461X(1996)57:3%3C309::AID-QUA4%3E3.0.CO;2-1 Comparison shopping for a gradient‐corrected density functional]''. International journal of quantum chemistry, 57(3), 309-319. | * Perdew, J. P., & Burke, K. (1996). ''[https://onlinelibrary.wiley.com/doi/pdf/10.1002/(SICI)1097-461X(1996)57:3%3C309::AID-QUA4%3E3.0.CO;2-1 Comparison shopping for a gradient‐corrected density functional]''. International journal of quantum chemistry, 57(3), 309-319. | ||
* Doorenbos, R. B., Etzioni, O., & Weld, D. S. (1997, February). ''[https://dl.acm.org/doi/pdf/10.1145/267658.267666 A scalable comparison-shopping agent for the world-wide web]''. In Proceedings of the first international conference on Autonomous agents (pp. 39-48). | * Doorenbos, R. B., Etzioni, O., & Weld, D. S. (1997, February). ''[https://dl.acm.org/doi/pdf/10.1145/267658.267666 A scalable comparison-shopping agent for the world-wide web]''. In Proceedings of the first international conference on Autonomous agents (pp. 39-48). | ||
[[Category:Sales management]] | [[Category:Sales management]] | ||
Latest revision as of 18:34, 17 November 2023
Comparison shopping is the process of comparing the prices, features, and benefits of different products or services in order to determine which is the best value.
- The main purpose of comparison shopping is to locate the best product or service at the lowest price.
- It is important to compare a variety of factors when comparison shopping, such as price, quality, warranty, and reputation.
- In addition, shoppers should consider other factors such as shipping costs, delivery time, and customer service.
- Comparison shopping is often done online through search engines, comparison shopping engines, and price comparison websites.
Comparison shopping can save shoppers time and money by helping them to find the best product for the lowest price. It is important to make sure to compare a variety of factors before making a purchase in order to make sure that the best possible product is chosen at the best possible price.
Example of Comparison shopping
Comparison shopping is a great way for shoppers to save money and make sure that they are getting the best product for the lowest price. For example, if a customer is looking for a new laptop, they can compare different models and features from a variety of retailers to find the one that is the best fit for their needs. By looking at factors such as price, quality, warranty, reputation, shipping costs, delivery time, and customer service, customers can make sure that they are getting the best possible deal on their purchase.
When to use Comparison shopping
Comparison shopping should be used whenever a customer is looking to make a purchase. It is especially important to comparison shop when looking for a large purchase or one that requires a significant financial investment. It can also be helpful when considering a purchase that involves complex research and comparison of features, such as when considering a new computer or a car. Additionally, comparison shopping can help customers to find the best deals on items that they purchase frequently, such as groceries or household items.
Types of Comparison shopping
Comparison shopping can be done in a variety of ways, such as online or in physical stores. Online comparison shopping is popular and can be done through search engines, comparison shopping engines, and price comparison websites. Search engines, such as Google, allow users to search for products and compare prices across various websites. Comparison shopping engines, such as Nextag and Pricegrabber, compare products across various websites and list the results in order of price, features, and benefits. Price comparison websites, such as PriceRunner or Idealo, are websites that list the prices of products from different retailers in order to help shoppers find the best deal. Comparison shopping can also be done in physical stores by comparing the prices of products on the shelf and comparing the features of products.
Advantages of Comparison shopping
Comparison shopping has many advantages for shoppers. *The primary advantage of comparison shopping is that it allows shoppers to quickly and easily compare the prices, features, and benefits of different products or services. *Comparison shopping also allows shoppers to find the best deals on the products or services they are looking for. *In addition, comparison shopping can help shoppers to save time by making it easier for them to compare prices and features of different products or services. *Finally, comparison shopping can help shoppers to make more informed decisions, as they can compare different products or services before making a purchase.
Limitations of Comparison shopping
Comparison shopping has a few limitations that shoppers should be aware of.
- First, comparison shopping can be a time-consuming process as shoppers must compare each product on the same criteria to make sure that the best value is found.
- Second, comparison shopping may not always yield the lowest prices as some sellers may not list their products on comparison shopping websites.
- Third, comparison shopping is only useful for products or services that are similar in nature, as it is difficult to compare different types of products or services.
In addition to comparison shopping, there are other approaches that shoppers can use to save money and find the best product or service. *One approach is to use coupons and promotional codes to get discounts. *Another approach is to look for sales and clearance items which may be available for a lower price. *Another approach is to wait for items to go on sale, as many retailers offer discounts during certain times of the year. *Finally, shoppers can also use loyalty programs or rewards programs to get additional discounts when making purchases.
These approaches can help shoppers save money by finding discounts and sales, allowing them to make the most of their money. By planning ahead, shoppers can save even more money by taking advantage of coupons, clearance items, and sales. Furthermore, loyalty and rewards programs can help shoppers to save even more money over time.
| Comparison shopping — recommended articles |
| Generic brand — Multi-channel distribution — High involvement product — Retail packaging — Distribution strategy — Automated valuation model — Price setting — Convenience product — Micropayment |
References
- Wilde, L. L., & Schwartz, A. (1979). Equilibrium comparison shopping. The Review of Economic Studies, 46(3), 543-553.
- Perdew, J. P., & Burke, K. (1996). Comparison shopping for a gradient‐corrected density functional. International journal of quantum chemistry, 57(3), 309-319.
- Doorenbos, R. B., Etzioni, O., & Weld, D. S. (1997, February). A scalable comparison-shopping agent for the world-wide web. In Proceedings of the first international conference on Autonomous agents (pp. 39-48).
