Describe the buyer readiness stages model and relate the model to the elements of the promotional mix.
Buyer readiness stages:
Buyer readiness is nothing but a buyer undergoes various stages before he makes a purchase of the product. Following are the stages:
In this stage, the company must create awareness of its product among the customers by creating various advertising and promotional programs to attract them.
This has a link with the first stage, after getting awareness about the product; the customer would like to gain knowledge about it. Therefore the advertising efforts must ensure the company is an expert on that particular product or service.
After getting a positive feedback about the product from various sources, the customers would start to like the product through various entertainment ads that the company created for its product.
The company must try to create benefit statements. This will enable the clients in preferring your company over the competitors and by providing the target customers the reasons to do business with us.
The company must create impression in the minds of the customers that they are the first to approach them. This can be done by providing reinforcement for the preference that has been created.
Once the customers have decided to approach us, it is through applying the correct skill set, we enable them to purchase our product.
How this can be related to elements of promotional mix:
Elements of promotion mix comprise of the following:
Advertising, public relations, sales promotion, direct marketing and personal selling.
All the above elements can be related to the buyer readiness stage model in such a way that they help in creating awareness about a product or service to the customer. Advertising for example, will help in developing awareness about a product to the customer. Similarly, sales promotion, personal selling will help in providing the required knowledge about the product to the customer, after which they start to like the product which ultimately results in purchase of the product
Hence elements of promotion mix and buyer readiness stage model are interlined with each other to attract the customers and enable them to purchase our company’s product rather than going to the competitors product or services.
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