What does the term "buying cycle" refer to?

The term "buying cycle" refers specifically to the process customers go through when deciding to make a purchase. This concept encompasses various stages, including recognizing a need or desire, researching options, comparing products or services, making the purchase decision, and eventually evaluating the purchase afterward. Understanding the buying cycle is crucial for retailers and marketers, as it helps them tailor their strategies to meet customer needs effectively at each stage, ultimately influencing buying behavior and enhancing customer satisfaction.

This insight allows retailers to align their marketing efforts, product offerings, and customer service approaches with the expectations and experiences of shoppers throughout their decision-making journey.