What is Buyer Readiness Stages? Definition and meaning

Buyer Readiness Stages

Definition: Buyer Readiness Stages are the psychological buying stages through which a consumer passes while purchasing any good or service. There are many slightly different models describing these stages. Shapiro and Bonoma (1984) described one of them (How to Segment Industrial Markets):
1. AWARENESS about the product
2. KNOWLEDGE regarding the benefits
3. INTEREST in the product
4. PREFERENCE given to the product over its competition
5. CONVICTION of the suitability
6. PURCHASING power.
Helps in determining what promotional activities and media are going to be used in a marketing campaign. A similar one is the AIDA Model.

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