Friday "Term of the week" Series

Term of the Week – Purchase Funnel or Marketing Funnel

A Purchase Funnel is a consumer focussed marketing model which illustrates customer journey towards the purchase of a product or a service. It is also referred to as Marketing Funnel, Sales Funnel or Customer Funnel. As per the concept developed by E. St. Elmo Lewis in 1898, it has four stages –

Awareness – Customer awareness about the existence of the product or service.

Interest – Actively participating in a product group.

Desire – Aspiring to a particular brand or product

Action – Action taken towards purchasing the product

This model has been modified to cater to the modern demands and needs.

Related Posts – 

What is a Purchase Funnel?

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