factors affecting the rate of diffusion and consumer adoption of newly launched products
TRANSCRIPT
Factors AffectingCONSUMER ADOPTION
OF New Products
Steps in
Consumer Adoption….
Awareness…
Interest…
Evaluation…
Trial…
Adoption…
Factorsinfluencing
Consumer Adoption….
Readiness to try new products
And Personal Influences
Factor 1
Based on Readiness to try new productsConsumers are divided into :
• INNOVATORS
• EARLY ADOPTERS..
• EARLY MAJORITY..
• LATE MAJORITY..
• LAGGARDS…
Personal Preferences…
Effect one person has over another persons attitude...
Characteristics Of
Innovation
Factor 2
• Relative Advantage
Original Product Low/no Rel. Advantage High Rel. Advantage
• Compatibility
• For a guy in texas ?Compatible• For a guy in Wisconsin? Not Comaptible
• Complexity…
Relatively Simple..Very complex.. Very simple..
• Divisibility…
Divisible..Not Divisible..
The degree to which an innovation may be sampled or tried out...
• Communicability…
Communicable....Not communicable..
OrganisationsReadinessTo Adopt
Innovation
Factor 3
RECAP
Factors Affecting Adoption
• Readiness to try New products
• Characteristics of the Innovation
• Organisations ’readiness to adopt innovation
Thank You !
Chandra Has Dondapati