Develop the Product
The fourth step of the process is to develop the product. During this step, your organization will experience an increase in budget, resource usage, personnel time, and effort.
During the development step, a prototype of the product is designed and provided to project members or special focus groups for testing. The product's features, performance, convenience, and quality are evaluated and adjusted as necessary.
The product development stage is typically the longest step. To keep the process on schedule, you should develop an effective project management plan to outline each employee's responsibility, set appropriate objectives, and establish time frames for every step of the product's development.
5. Test product
The fifth step of the development process is to test the product. During this stage, the product is test marketed to a select consumer segment. Your organization may implement a limited production run to evaluate the efficiency and capabilities of the manufacturing process.
The length of the test marketing campaign can vary depending on the product and the size and nature of the consumer test segment. The information gathered from the test can determine whether the product is ready for a full production roll-out or if it requires more research and modification.
6. Sell product
The final step of the development process is to sell the product. Commercialization involves manufacturing and marketing your product on a full-scale basis. It is important that you increase your target customers' awareness of your new product and make the item readily available.
Consumer Adoption:
· Identify the stages of the consumer adoption process
Consumer Adoption Process
People are typically slow to accept a new product. Consumers maybe cautious or even wary of what an unfamiliar product offers. Before they accept a product, most shoppers go through a series of emotions and actions called the consumer adoption process.
1. Awareness
To persuade potential customers to adopt your product, you should understand the five stages of the consumer adoption process. The first stage is Awareness. The consumer learns of a product's existence but does not have much information about its features or benefits.
2. Interest
The second stage is Interest. The consumer displays an interest in the product and begins to pursue more information about it. This phase is followed closely by stage three of the consumer adoption process
3. Assessment
, Assessment. The consumer assesses the features and benefits of the product based on the information he or she gathers.
4. Trial
Trial is the fourth stage. The customer tests or buys the product to examine its usefulness.
5. Judgment
The final stage of the consumer adoption process is Judgment. The customer evaluates his or her experience with the product and either decides to adopt the product by making another purchase, or determines that the product's benefits were unsatisfactory and declines to use it again.
Consumers who accept a new product can be classified into one of five categories depending on when they adopt the product. For example, consumer innovators tend to buy products as soon as they are available, or in some cases, even before the product is widely distributed.
Early adopters make buying decisions slightly slower than innovators, but still like to be among the first consumers to purchase a product.
The next two categories, early majority and _late majority typically include consumers who want more information about a product before they adopt it. These segments are the largest categories, combining for 68 percent of the adopter population. The last category is comprised of laggards who take their time before adopting a product.
buy now
The fourth step of the process is to develop the product. During this step, your organization will experience an increase in budget, resource usage, personnel time, and effort.
During the development step, a prototype of the product is designed and provided to project members or special focus groups for testing. The product's features, performance, convenience, and quality are evaluated and adjusted as necessary.
The product development stage is typically the longest step. To keep the process on schedule, you should develop an effective project management plan to outline each employee's responsibility, set appropriate objectives, and establish time frames for every step of the product's development.
5. Test product
The fifth step of the development process is to test the product. During this stage, the product is test marketed to a select consumer segment. Your organization may implement a limited production run to evaluate the efficiency and capabilities of the manufacturing process.
The length of the test marketing campaign can vary depending on the product and the size and nature of the consumer test segment. The information gathered from the test can determine whether the product is ready for a full production roll-out or if it requires more research and modification.
6. Sell product
The final step of the development process is to sell the product. Commercialization involves manufacturing and marketing your product on a full-scale basis. It is important that you increase your target customers' awareness of your new product and make the item readily available.
Consumer Adoption:
· Identify the stages of the consumer adoption process
Consumer Adoption Process
People are typically slow to accept a new product. Consumers maybe cautious or even wary of what an unfamiliar product offers. Before they accept a product, most shoppers go through a series of emotions and actions called the consumer adoption process.
1. Awareness
To persuade potential customers to adopt your product, you should understand the five stages of the consumer adoption process. The first stage is Awareness. The consumer learns of a product's existence but does not have much information about its features or benefits.
2. Interest
The second stage is Interest. The consumer displays an interest in the product and begins to pursue more information about it. This phase is followed closely by stage three of the consumer adoption process
3. Assessment
, Assessment. The consumer assesses the features and benefits of the product based on the information he or she gathers.
4. Trial
Trial is the fourth stage. The customer tests or buys the product to examine its usefulness.
5. Judgment
The final stage of the consumer adoption process is Judgment. The customer evaluates his or her experience with the product and either decides to adopt the product by making another purchase, or determines that the product's benefits were unsatisfactory and declines to use it again.
Consumers who accept a new product can be classified into one of five categories depending on when they adopt the product. For example, consumer innovators tend to buy products as soon as they are available, or in some cases, even before the product is widely distributed.
Early adopters make buying decisions slightly slower than innovators, but still like to be among the first consumers to purchase a product.
The next two categories, early majority and _late majority typically include consumers who want more information about a product before they adopt it. These segments are the largest categories, combining for 68 percent of the adopter population. The last category is comprised of laggards who take their time before adopting a product.
buy now