The Consumer Buying Cycle is a framework we use to examine and address the discreet stages people go through when they buy a given product or service. The more stages a buyer goes through, the more the buying decision is a “considered purchase”–one involving a good deal of thought, time and money.
A simple, routine purchase like ketchup might involve only three stages in the Buying Cycle. But a considered purchase, like a vacation package or a new enterprise software program, would involve all six stages–some of them quite extensively.
To effectively influence a considered purchase, it helps to understand each stage of the Buying Cycle intimately and from the buyer’s perspective. Such an understanding reveals the stages at which a brand may be strong or vulnerable, and what communication vehicles–such as media advertising, public relations, direct marketing, collateral, or the Web–would work best, and in what combination.
The Buying Cycle also helps companies fine-tune their marketing mix with insights on how purchase decisions are affected by factors, such as distribution, pricing, product features, and promotions.
At Shennum Green, the Consumer Buying Cycle is just one of our planning tools. It ensures that as much care goes into communicating a product or service as a customer puts in to buying it. |