Information search by customers is a fundamental step in all models of consumer and industrial buying behavior. Search is not without sacrifice in terms of money, and especially, time. A number of new technologies are emerging on the Internet that greatly facilitate searching. These vary in terms of their ability to search effectively, and also with regard to what they achieve for the searcher. Of course, some are well along the road to full development and implementation, and others are still on drawing boards. The tools also range from a simple facilitation of search, through more advanced proactive seeking, to the actual negotiation of deals on the customer's behalf. However, all hold significant promise. These tools are described briefly in Table 8.1.
|
Type of tool |
Functions |
Examples |
|
Search engine |
Software that searches Web sites by key word(s). |
AltaVista and Hotbot. |
|
Directory |
A Web site containing a hierarchically structured directory of Web sites. |
Yahoo! |
|
Comparison site |
A Web site that enables comparisons of product/ service category by attributes and price. |
CompareNet, a Web site that lists comparative product information and prices. |
|
Shopbot |
A program that shops the Web on the customer's behalf and locates the best price for the sought product. |
Bots used by search engines Lycos and Excite. |
|
Intelligent agent |
A software agent that will seek out prices and features and negotiate on price for a purchase. |
Kasbah, a bot being developed by MIT, can negotiate based on the price and time constraints provided. |
At the very least, tools in Table 8.1, such as search engines, directories, and comparison sites can reduce the customer's costs of finding potential suppliers, and those of making product and price comparisons. More significantly, the more sophisticated tools, such as true bots and agents, will seek out lowest prices and even conduct negotiations for lower prices.
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