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Sales Funnel or Purchase Funnel: The sales or purchase funnel (sales from the seller's perspective and purchase from the buyer's perspective) guides potential customers through stages of awareness, interest, desire, and action, culminating in a purchase decision. It is a subset of full funnel marketing, centered specifically on the conversion ...
Moving from step to step, the total number of prospects diminishes. This phenomenon is sometimes described as a "purchase funnel". A relatively large number of potential purchasers become aware of a product or brand, and then a smaller subset becomes interested, with only a relatively small proportion moving through to the actual purchase.
The purchase funnel indicates that awareness is a necessary precondition for purchase. All hierarchical models indicate that brand awareness is a necessary precondition to brand attitude or brand liking, which serves to underscore the importance of creating high levels of awareness as early as possible in a product or brand life-cycle .
An example of funnel visualization. Funnel analysis involves mapping and analyzing a series of events that lead towards a defined goal, like an advertisement-to-purchase journey in online advertising, or the flow that starts with user engagement in a mobile app and ends in a sale on an eCommerce platform.
In e-commerce, the conversion funnel is the journey a consumer takes through an Internet advertising or search system, navigating an e-commerce website, and finally making a purchase. The consumer is seen as being "converted" from a visitor to the site to a buyer.
People didn't just fill their plates this Thanksgiving weekend -- data shows they also filled their online shopping carts. Black Friday online shopping this year set a new high, reaching $10.8 ...
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