Consumer Behavior in a New Product Adoption Process
In this article you will learn:
What is the Product Adoption Process?
What the different types of consumers/customers are at different stages of Product Adoption Process.
What is the Product Adoption Process?
It’s a five mental process (stages) that all prospecting customers pass through; starting from being prospect , and ends by being loyal customer or non-customer at all (rejection process).
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What are the different types of consumers/customers in Product Adoption Process?
1. Innovators (What are the different types of consumers/customers in Product Adoption Process?):
Innovators are the type of consumer that is always looking for what is new in the market. They are having a high purchasing power to buy high value product and of high prices too. Innovators shouldn’t be the rich customers; they are the customers who are having the passion to know what is new in the field of their interest. Innovators are people who are initiative to ask about your product before its release in the market.
2. Early Adopters (What are the different types of consumers/customers in Product Adoption Process?):
They are the Key Opinion Leaders, and individuals who are purchasing products when it’s become available in the market from short period of time. This target segment is coming after innovators customers. Early Adopters became a Word Of Mouth when they adapt your product early, that’s why they called “Early Adopters”.
3. Early Majority (What are the different types of consumers/customers in Product Adoption Process?):
This segment is including most of your target segment. Those customers are purchasing your product when they feel that your product is matching their needs, and thought about your product values and benefits.
4. Late Majority (What are the different types of consumers/customers in Product Adoption Process?):
They are the customers who aren’t updated about the technology or the new products available in the market. Simply they are purchasing your product late because they see that your product isn’t essential to their needs when they see you product for the 1st time. To target this group, you need to consider the Decision Buying Process Of those segment, they should ensure that they are making the right decision after referral from their friends, colleagues and most of the people around them in the community.
5. Laggards (What are the different types of consumers/customers in Product Adoption Process?):
They are the consumers that are having a problem in the decision buying process; they are late because they can’t take a decision in a short period of time. Also they are the customers whom their purchasing power is not enough to purchase your product, so they won’t purchase your product unless it became as a life essential factor for their living.
Related articles to Product Adoption Process:
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8. Product Life Cycle:
- What are Product Life Cycle Stages?
- Why product life cycle is important?
- What is a product life cycle management?
- Product life cycle examples (examples of short and long product life Cycles)
- How to extend the product life cycle in 5 steps?
9. B.C.G. Matrix:
- What is a BCG Matrix Model (Boston Consultancy Group Matrix) Model?
- How to Make a BCG Matrix Model (Boston Consultancy Group Matrix) Model?
- BCG Matrix (Boston Consultancy Group Matrix) Examples (Case Study no.1).
- BCG Matrix (Boston Consultancy Group Matrix) Examples (Case Study no.2).
- BCG Matrix (Boston Consultancy Group Matrix) template free (PDF, PowerPoint, and Word formats).
- What is a GE Matrix (General Electric Matrix) Analysis Diagram? (Diagram, Definitions, how many factors should be involved?)
- What are the factors affecting Market Attractiveness in G.E. Matrix (General Electric Matrix) Analysis Diagram?
- What are the factors affecting Company Business Strengths or Position in G.E. Matrix (General Electric Matrix) Analysis Diagram?
- How to calculate the market attractiveness in G.E. Matrix (General Electric Matrix) Analysis Diagram?
- How to calculate Company Business Strengths for your company and competitors companies in G.E. Matrix (General Electric Matrix) analysis Diagram?
- What is the recommended strategy to manage products/services in the G.E. Matrix (General Electric Matrix) Analysis Diagram?
- GE Matrix (General Electric Matrix) example (Case Study)
- GE Matrix (General Electric Matrix) template Free (PowerPoint, Word, PDF).
11. New Product Development:
- Stages of new product development process in 7 steps.
- What are new product development process types?
- What is the use of a new product development process steps ?
Related articles to marketing mix (marketing tactics or 7 P’s):
3. Promotion (Marketing Communications):
- What is a brand manager job in marketing career?
- What is a Brand in Marketing terms?
- What is a branding in marketing terms?
- How to develop a branding strategy?
- How to create a brand identity?
- What are Brand Perspectives?
- How to create Brand Loyalty?
- How to build Brand Value?
- How to build Brand equity?
3.12. Integrated Marketing Communications Mix:
- What is a marketing communication model?
- What is a Coordinated Marketing Communications (CMC)?
- What is advertising in marketing, advertising age, techniques and strategies?
- How to manage integrated marketing communications mix in different stages of Product Life Cycle?
- Creative Sales Promotions Ideas and Techniques in marketing communications mix
- What are trade promotions management strategies and techniques?
- How to gain customers loyalty and improve customers’ retention?
- What are Public Relations strategies and tactics in marketing communications?
- What are Creative Direct and Interactive Marketing Strategies in Integrated Marketing Communications Mix?
- What is Database Marketing about?
- What is a sponsorship about in marketing communications?
- What is a Personal Selling about in integrated marketing communications mix?
4.7. Price Determinants:
- What Are Price Determinants; what are the factors affecting Price Determination of your products or services?
- Price Sensitivity as Price Determinant
- Competitors as Price Determinant; Price Cuts and Price Wars (Part 1 and Part 2)
- Product Life Cycle (P.L.C.) as Price Determinant
- Debtors and Creditors as Price Determinant
- The Beak-even Analysis As Price Determinant
- Marginal Costing as Price Determinant.