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Essay

Buying Behavior

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Issue:

Business

 

Written by:

Cheri W

 

Date added:

February 17, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 393

 

Was viewed:

8515 times

 

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Essay content:

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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