Factors affecting consumer adoption

of new product/service

Stages in the Adoption process

• Awareness

• Interest

• Evaluation

• Trial

• Adoption

What all factors influence the customer adoption for a new

product/service?

Readiness to try new products and personal influence

• Innovators

• Early adopters

• Early majority

• Late majority

• Laggards

Characteristics of the innovation

• Relative Advantage

• Compatibility

• Complexity

• Divisibility

• Communicability

Organization’s readiness to adopt

innovation

Recap

Factors affecting the customer adoption for a new product/service?

• Readiness to try new products and personal influence

• Characteristics of the innovation

• Organization’s readiness to adopt innovation

References

• Marketing Management, Kotler Keller• www.rjionline.org• www.digitalsynergy.com• www.collegenetwork.com• www.aus.ac.in• internationalmarketingenvironment.com• www.digitalsynergy.com• marketresearch.verticaleleven.in• startupcentral.ae

Disclaimer

Created by S Varadharajan, IIT Madras, during an internship by Prof. Sameer Mathur, IIM Lucknow.

www.IIMInternship.com