Influencing Buyer Readiness Stages through Marketing Strategies: A Study at the AFBL

Abstract

Buyer Readiness Stages refer to a particular state which denotes the willingness of any individual customer for buying a specific product or service. To influence the buyer readiness stages marketer plans for attaining a company's objectives by identifying and maintaining a strong competitive advantage and knowing the needs of consumers. To this end, this report aims at exploring how AFBL follows CBBE Model (Customer Based Brand Equity) for its Clemon Brand to influence buyer readiness. The report contains about Akij Group and company history Akij Food & Beverage Limited profile and data about the brands & products. Especially, the report is about the brand Clemon. Buyer Readiness Stages are commonly listed as awareness, knowledge, liking, preference, conviction, and purchase. The importance of each stage is to help the company is identifying its targeted consumers who belong to the buyer readiness stages. Also, by segmenting people on the basis of their willingness to buy their products, they will be able to advertise their products focusing on the demands and the needs of target consumers.

Clemon is following CBBE Model (Consumer Based Brand Equity) as a marketing strategy for capturing their targeted and potential consumers. They create awareness of the product, this is the first and most crucial step and starting point for purchase. Awareness is the stage where consumers have a vague idea of the product. Here, the factor of the product such as Clemon is the Brand of AFBL. Consumers are less aware of the product. Meanwhile, Clemon developed their marketing strategies so that awareness is created such as Above the Line (ATL), Below the Line (BTL), and Through the Line (TTL) promotional strategies to attract the maximum number of consumers who are potential to buy. At the knowledge stage, Clemon provides knowledge related to the benefits through social media posts, magazines, and newsletters to their target group of consumers so that they can attain more consumers. Create initial factors of the interest of the customers in that product. A preference is given to that particular product over the other brands in the competitive market. Conviction of that specific product in terms of its suitability and also its purchasing power, and finally consumers are willing to purchase Clemon. Based on the study, several recommendations are forwarded for improvement.