Consumer Adoption Process-Marketing Managment-Lecture Handout, Exercises of Marketing Management

Download Consumer Adoption Process-Marketing Managment-Lecture Handout and more Exercises Marketing Management in PDF only on Docsity! Marketing Management-(MKT-501) VU © Copyright Virtual University of Pakistan 32 Lesson-15 CONSUMER ADOPTION PROCESS Once the product has been developed, introduced in the market and launched, the product is then before the potential customers. They LEARN about the product, TRY them and ADOPT or REJECT them. By adoption we mean, he becomes a regular buyer and user of the product This is what we call CONSUMER ADOPTION PROCESS followed by CUSTOMER LOYALTY PROCESS. This is a major area of concern for us. As said earlier, the consumer may or may not adopt the product. MASS MARKET APPROACH This approach was massive distribution of the product and heavy advertisement. Of course, there was a heavy expenditure on advertisement and secondly wasteful activity in this approach HEAVY USER TARGET MARKETING This approach was more realistic. But in this approach, early adoption was limited due to brand loyalty of some of the heavy users and difference in their interests. Hence we have to direct our efforts to early adoption stage strategy and co-relate to early adoption and late adoption. Early adoption differed from late adoption due to consumer psychology. STAGES OF CONSUMER ADOPTION PROCESS Let us first take a look at the INNOVATION DIFFUSION theory. An innovation refers to anything perceived by some one as new. It may have a long history of innovating product. But in true sense its an Innovation to the person, who sees it and it is he who spreads it through a social system. INNOVATION DIFFUSION PROCESS has been defined as “The spread of idea from the source of invention or creation to the ultimate user or consumers”. Consumer Adoption Process focuses on the mental process through which an individual goes through from first hearing about the innovation to the final stage of adoption. FIVE SUCH STAGES HAVE BEEN OBSERVED • AWARENESS: this stage is when a consumer hears about an innovation, but lacks information about it • INTEREST: the consumer is stimulated to seek information about the innovation • EVALUATION: this is when the consumer decides whether to use the product or not • TRIAL: the consumer tries the product to estimate the value of innovation • ADOPTION: this is when the consumer adopts to use the product on regular basis and use the innovation The New-product marketers should facilitate consumer movement through these stages and make sure that at no stage a consumer is stuck. This is a change-taking place in his mind. Any change has at least one Resistance and that is fear. Hesitancy is backed up by fear-this fear must be removed. FACTORS INFLUENCING THE ADOPTION PROCESS As said earlier, there is always resistance to change. WE ALL WANT CHANGE BUT WE DON’T LIKE IT EVEN WHEN THE CHANGE IS FOR THE BETTERMENT docsity.com