Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Car buyers who use the Internet spend less time at the dealership negotiating prices

05.06.2007
In one of the first studies to detail how car purchasing has changed since the advent of the Internet, researchers find that online research has largely supplanted time spent at the dealership, time spent negotiating prices, and use of third-party sources such as Consumer Reports.

The study, forthcoming in the June issue of the Journal of Consumer Research, also reveals that the overall time buyers spent searching for a car has increased with Internet research.

“We confirm that consumers who use the Internet appear to come to the dealer armed with better information, and that users of objective print information appear to migrate to the online version of these sources,” write Brian T. Ratchford (University of Texas, Dallas), Debabrata Talukdar (University of Buffalo), and Myung-Soo Lee (Baruch College, CUNY). “These results are consistent with the common expectation that buyers use the Internet to come to the dealer armed with price information, ready to negotiate a better buy.”

Specifically, the study analyzes data from three field surveys of new car buyers in 1990, 2000 and 2002. Using self reports of time spent with each source, the researchers found that the impact of the Internet on average time spent at the dealer was especially large – buyers who used the Internet spent an average of 80 minutes less at car dealerships during the course of their search for a car. They also spent a total of 25 minutes less negotiating prices and on test drives.

But the increased reliance on information from the Internet did not seem to have an impact on how readily buyers turn to friends and family for information when buying a car, the researchers note, suggesting that the information most commonly accessed by potential car buyers on the Internet is different than the type of information gleaned from word-of-mouth recommendations.

“We believe that our study provides the most complete analysis to date of how the Internet is being integrated with other product information sources,” the researchers write. “Manufacturer/dealer Internet sources are the most widely used and appear to substitute the most for traditional sources.”

Suzanne Wu | EurekAlert!
Further information:
http://www.uchicago.edu

More articles from Studies and Analyses:

nachricht Physics of bubbles could explain language patterns
25.07.2017 | University of Portsmouth

nachricht Obstructing the ‘inner eye’
07.07.2017 | Friedrich-Schiller-Universität Jena

All articles from Studies and Analyses >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Abrupt motion sharpens x-ray pulses

Spectrally narrow x-ray pulses may be “sharpened” by purely mechanical means. This sounds surprisingly, but a team of theoretical and experimental physicists developed and realized such a method. It is based on fast motions, precisely synchronized with the pulses, of a target interacting with the x-ray light. Thereby, photons are redistributed within the x-ray pulse to the desired spectral region.

A team of theoretical physicists from the MPI for Nuclear Physics (MPIK) in Heidelberg has developed a novel method to intensify the spectrally broad x-ray...

Im Focus: Physicists Design Ultrafocused Pulses

Physicists working with researcher Oriol Romero-Isart devised a new simple scheme to theoretically generate arbitrarily short and focused electromagnetic fields. This new tool could be used for precise sensing and in microscopy.

Microwaves, heat radiation, light and X-radiation are examples for electromagnetic waves. Many applications require to focus the electromagnetic fields to...

Im Focus: Carbon Nanotubes Turn Electrical Current into Light-emitting Quasi-particles

Strong light-matter coupling in these semiconducting tubes may hold the key to electrically pumped lasers

Light-matter quasi-particles can be generated electrically in semiconducting carbon nanotubes. Material scientists and physicists from Heidelberg University...

Im Focus: Flexible proximity sensor creates smart surfaces

Fraunhofer IPA has developed a proximity sensor made from silicone and carbon nanotubes (CNT) which detects objects and determines their position. The materials and printing process used mean that the sensor is extremely flexible, economical and can be used for large surfaces. Industry and research partners can use and further develop this innovation straight away.

At first glance, the proximity sensor appears to be nothing special: a thin, elastic layer of silicone onto which black square surfaces are printed, but these...

Im Focus: 3-D scanning with water

3-D shape acquisition using water displacement as the shape sensor for the reconstruction of complex objects

A global team of computer scientists and engineers have developed an innovative technique that more completely reconstructs challenging 3D objects. An ancient...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Clash of Realities 2017: Registration now open. International Conference at TH Köln

26.07.2017 | Event News

Closing the Sustainability Circle: Protection of Food with Biobased Materials

21.07.2017 | Event News

»We are bringing Additive Manufacturing to SMEs«

19.07.2017 | Event News

 
Latest News

New 3-D imaging reveals how human cell nucleus organizes DNA and chromatin of its genome

28.07.2017 | Health and Medicine

Heavy metals in water meet their match

28.07.2017 | Power and Electrical Engineering

Oestrogen regulates pathological changes of bones via bone lining cells

28.07.2017 | Life Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>