New product adoption

 By Hitesh Bhasin 

The first question to be asked in New product adoption is how does new product adoption differ from the process of buying a product, which the customer has already bought once before? What does “new product adoption” mean? and what is the process of new product adoption?

A new product adoption can be defined as: “A good, service or idea that is “perceived” by some potential customers as new. It may have been available for some time, but many potential customers have not yet adopted the product nor decided to become a regular user of the product. Thus if they buy this product, it is new product adoption.”

Research suggests that customers go through five stages in the process of new product adoption or service: these are summarized below:

(1) Awareness – the customer becomes aware of the new product, but lacks information about it.

(2) Interest – the customer seeks information about the new product.

(3) Evaluation – the customer considers whether trying the new product makes sense.

(4) Trial – the customer tries the new product on a limited or small scale to assess the value of the product.

(5) Product Adoption – the customer decides to make full and/or regular use of the new product.

Thus if a customer goes through all the above stages he is assumed to have adopted the product. There are various stages post adoption as well which decide whether or not the customer will be retained with the product. One of such things is post sale service which is extremely important to retain the customer.