Marketing Ch20 part2

Marketing Ch20 part2 - Adoption is an individuals decision...

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o Sales-wave research – consumers who initially try the product at no cost are reoffered it, or a competitor’s product, at slightly reduced prices. The offer may be made as many as five times (sales wave), while noting how many customers selected the product again. o Simulated test-marketing calls for finding 30 to 40 qualified shoppers and questioning them about brand familiarity and preferences in a specific product category. o Controlled test marketing – a research firm manages a panel of stores that will carry new products for a fee. o Test Markets – The ultimate way to test a new consumer product is to put it into full-blown test markets. To coordinate the many activities involved in launching a new product, management can use network-planning techniques such as critical path scheduling (CPS).
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Unformatted text preview: Adoption is an individuals decision to become a regular user of a product. An innovation is any good, service, or idea that someone perceives as new, no matter how long its history. Innovation diffusion process is the spread of a new idea from its source of invention or creation to its ultimate users or adopters. Adopters of new products move through five stages: Awareness, Interest, Evaluation, Trial, Adoption Five adopter groups: innovators, early adopters, early majority, late majority, laggards Personal influence is the effect one person has on anothers attitude or purchase probability. Five characteristics influence the rate of adoption of an innovation: relative advantage, compatibility, complexity, divisibility, and communicability....
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This note was uploaded on 03/02/2011 for the course MRKT 685 taught by Professor Choi during the Spring '11 term at Rutgers.

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