Buyer-readiness stages are the stages consumers normally pass through on their way to making a purchase, including awareness, knowledge, liking, preference, conviction, and finally the actual purchase.
Buyer-readiness stages refer to the psychological purchasing stages through which a customer passes while buying any product or service. Many different models exist which describe these phases or stages. In 1984 Shapiro and Bonoma explained one of those (How industrial markets are segmented). According to this model, six stages are involved in the buyer-readiness stages. The stages are briefly described below:
- AWARENESS: This is the phase where the customer has a rough idea about what are the product’s and service’s factors. When the customers are not that much aware regarding the product, it is the marketers’ responsibility to build strategies to create awareness. Marketers use promotional strategies and advertisements for attracting more customers who can be potential buyers.
- KNOWLEDGE: This is the second stage where the consumers have some awareness regarding the product but they lack knowledge regarding the product’s offerings. Here, the marketers’ motive is spreading greater knowledge regarding the product. They build advertising efforts for developing the customers as a specialist or an expert in one or more of their products or services.
- INTEREST: Interest or liking is the stage where the customer is aware and possesses complete knowledge regarding the product. Then s/he begins relating herself/himself with this product and develop a connection and the marketers develop strategies accordingly.
- PREFERENCE: This is the fourth stage where evaluation is done with the consumer base whether they are preferring the product of a company over its competitors.
- CONVICTION: At this stage, the marketers give the consumer a very strong reason and impact for believing and purchasing the product over the competitors. Thus, they build conviction in the customers’ minds.
- PURCHASING: Here, confidence regarding the product is developed in consumers and the marketers’ motive is leading the customers to buy the product.
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