The Relationship between Prior Brand Knowledge and Information Acquisition Order

Abstract

The relationship between prior knowledge and information search to the selection of information at the brand-attribute level is examined. The focus is on both the content and the certainty associated with prior beliefs about the attribute values of various brands. We find that information is acquired earlier with respect to prior beliefs that are more uncertain and less favorable. In addition, we find earlier acquisition of information on brands with high prior attractiveness in a choice but not in a ranking task. A dynamic analysis of information acquisition incorporating the effect of prior knowledge and newly acquired knowledge on search priorities is developed.