Advertising Consider Product Life Cycle Customer Buying Habits

Advertising Consider Product Life Cycle Customer Buying Habits



Advertising? Consider Product Life Cycle & Customer Buying Habits
When you create advertising for​ small businesses, consider both the​ life cycle of​ your product or​ service along with customer buying habits.
Today, both sellers and​ buyers alike want fast results .​
You should recognize that the​ actual process of​ turning your prospects into customers still takes time .​
Buying cycle times may be shorter today, but the​ process still exists .​
People often buy according to​ their past purchasing habits and​ patterns .​
These habits can be hard to​ change.
Classic marketing theory details the​ life cycle of​ a​ product or​ service as​ (1) introduction, (2) growth, (3) maturity, (4) decline, and​ (5) phase-out .​
In other words: when it's (1) New, (2) Rapidly Accepted, (3) the​ Industry Standard, (4) Fading, and​ (5) Hard to​ Find .​
Furthermore, the​ people who buy those products/services can be profiled in​ different stages as​ (a) innovative adapters, (b) majority adapters, or​ (c) stragglers.
Profiles of​ these three buyer categories (a) (b) (c) are helpful in​ creating advertising tailored to​ each phase of​ the​ five life cycles of​ the​ product or​ service .​
Judge accordingly.
For example, when you introduce a​ new product or​ service, one of​ your prime target markets should be the​ early adapters, the​ innovators .​
It has been estimated somewhere around 10 to​ 20 percent of​ people do their own research and​ experimentation about their purchases .​
(An ever-increasing number do their research on the​ web – before they contact anyone.)
The other 80 percent or​ so are followers (b) (c) .​
They read, listen to, or​ watch ads; try recommendations from their friends, neighbors or​ co-workers; or​ use coupons, etc.
It is​ advertising that educates and​ entices prospects at​ these different purchasing stages to​ try something new for​ them .​
Most importantly, it​ happens person-by-person .​
Over time, good advertising can remind, motivate and​ change buying habits for​ those in​ each type of​ profile .​
So it​ is​ important to​ let each group know your product or​ service is​ there and​ ready for​ them when they want to​ buy .​
Plan to​ have your advertising message repeated often enough where it​ will be available to​ them when they are ready to​ explore and​ make a​ buying decision .​
It only takes money and​ time .​
Be patient .​
Keep chipping away at​ it .​
Soon, your targeted advertising message will be part of​ your product life cycle and​ customer buying habits.
© 2018 Jon Sinish
This article may be reprinted and​ distributed as​ long as​ the​ resource information remains intact.




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