Essay specific features
February 17, 2015
No of pages / words:
2 / 393
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It may have been available for some time, but many potential customers have not yet adopted the product nor decided to become a regular user of the product"
Research suggests that customers go through five stages in the process of adopting a new product or service: these are summarised below:
(1) Awareness - the customer becomes aware of the new product, but lacks information about it
(2) Interest - the customer seeks information about the new product
(3) Evaluation - the customer considers whether trying the new product makes sense
(4) Trial - the customer tries the new product on a limited or small scale to assess the value of the product
(5) Adoption - the customer decides to make full and/or regular use of the new product
What is the role of marketing in the process of new-product adoption?
A marketing team looking to successfully introduce a new product or service should think about how to help customers move through the five stages...
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They are often of a high socioeconomic group (“AB’s”). Conversely, the “laggards” (those who adopt last, if at all) tend to be older, less intelligent, less well-off and lower on the socioeconomic scale.
It follows from the above model that when a business launches a new product or service, the customers who buy first are likely to be significantly different from those who buy the product much later...
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