Advertising

Consider Product Life Cycle & Customer Buying Habits

Consider Product Life Cycle & Customer Buying Habits ,When you create an ad for a small business, consider the life cycle of...

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Consider Product Life Cycle & Customer Buying Habits
Consider Product Life Cycle & Customer Buying Habits

Consider Product Life Cycle & Customer Buying Habits ,When you create an ad for a small business, consider the life cycle of your product or service in addition to the buying habits of your customers.

Today, both sellers and buyers alike want fast results. You should be aware that certain processes to convert your prospects into customers still take time. The buying cycle time could also be shorter these days, but the method still exists. People often buy according to their past buying habits and patterns. This habit is often difficult to change.

Classical marketing theory details the product or service life cycle as (1) introduction, (2) growth, (3) maturity, (4) decline, and (5) discontinuation. In other words: when (1) New, (2) Quickly Accepted, (3) Industry Standard, (4) Faded, and (5) Hard to find.

In addition, people who purchase such products/services are often profiled in several stages as (a) innovative adapters, (b) majority adapters, or (c) stragglers.

The profiles of these three buyer categories (a) (b) (c) are helpful in creating advertisements that are tailored to each phase of the five life cycles of a merchandise or service. Judge accordingly.

For example, once you introduce a substitute product or service, one of your main target markets should be the first adapter, the innovator. it is estimated that about 10 to twenty percent of individuals do their own research and experimentation about their purchases. (An ever-increasing number is doing their research online – before they contact anyone.)

The other 80 percent are followers of (b)(c). They read, listen to, or watch advertisements; try recommendations from their friends, neighbors, or coworkers; or use coupons, etc.

It is advertising that educates and entices prospects at these different buying stages to do something new for them. most significantly, it happens person by person. Over time, good advertising can remind, motivate, and change buying habits for those on each profile type.

So it’s important to let each group of your products or services be there and be ready for them once they want to shop. decide to repeat your advertising message often enough where it will be available to them once they can explore and make a purchase decision.

It just takes money and time. twirling my thumb. Keep peeling it. Soon, your targeted advertising messages will become part of the product life cycle and buying habits of your customers.

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