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Consumer Markets and Consumer Buyer Behavior - The Buyer Decision Process for New Products

6 important questions on Consumer Markets and Consumer Buyer Behavior - The Buyer Decision Process for New Products

Name the sages of the adoption stages, and what happens during that stage:

1: Awarness: The consumer becomes aware of the product, but lacks information
2. Interest: Seeks information
3. Evaluation: Considering if the product makes sense to buy
4. Trial: Trying the product on a small scale to improve his or her estimate of the product value
5. Consumer decides to make full and regular use of the product.

What is adoption and of which five steps does the adoption process exists?

Adoption is the decision by an individual to become a regular user of te product. The adoption process is the mental process of an individual from the first learning to the final adoption of te product.

Steps:
1. Awareness
2. Interest
3. Evaluation
4. Trial
5. Adoption

What is the adaption process?

Mental process from which an individual passes from first hearing of the innovation to the final adaption.

What is the individual difference in innovativeness?

- Innovators: They are venturesome and try new ideas at some risk
- Early adopters: Guided by respect, they are usually opinion leaders in their communities and adopt new ideas early but carefully.
- Early mainstream: They are rarely leaders, but will adopt a new product earlier than the average person
-Late mainstream: Only adopts the product when the vast majority of people have already have.
-Late adopters: People who are based on tradition, will only adopt a new product when it becomes somewhat of a tradition itself.

What are the five adoption characteristics we distinguish?

1. Innovators; risky buyers
2. Early adopters; respectful, careful buyers but try new things
3. Early mainstream; deliberate buyers, but by sooner than average.
4. Late mainstream; skeptical buyers
5. Laggers; suspicious of change.

What is the influence of product characteristic rate of adoption?

Relative advantage: The degree to which innovation appears superior to existing products.
Compatibility: The degree innovation fits the values and experiences of its potential users.
Complexity: How hard it is to use and understand the new innovation
Divisibility: Degree to which the innovation may be tried on a limited basis
Communicability: The degree to which results of innovation can be observed or described to others.