Marketing – Entlifeonline Entrepreneurship And Business Blog Thu, 28 Mar 2019 03:50:10 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.1 /4ef4895ff3800d461454ca176905fc38/www.entlifeonline.com/wp-content/uploads/2018/09/cropped-entlifeonline-logo2.jpg?fit=32,32&ssl=1 Marketing – Entlifeonline 32 32 152827181 Product Life Cycle Stages (4 PLC Stages With Examples) /four-product-life-cycle-stages-with-examples/ /four-product-life-cycle-stages-with-examples/#respond Wed, 06 Mar 2019 14:13:44 +0000 /?p=3024 Welcome to my article on the four product life cycle stages with examples. If you are the type that’s not in for long talks, navigate to the main business of the day by clicking here.  However,  if you’re in a hurry click here for the summary version to help you save time. See What Others […]

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Welcome to my article on the four product life cycle stages with examples. If you are the type that’s not in for long talks, navigate to the main business of the day by clicking here. 

However,  if you’re in a hurry click here for the summary version to help you save time.

See What Others Are Reading

Introduction

Virtually everything on earth has a beginning and of course a possible end; and the same applies to product. At some point a man is given birth to, he them start growing gradually, he further develops into a fully grown man (maturity) and then eventually passes away. All of the above processes are what products faces when newly introduced into the market.

  • The birth stage of a man – refers to when the product is launched into the market after series of research.
  • When the man start growing – is the stage the initially introduced product has began to gain acceptance in the market by it’s target audience (growth stage) and is spreading gradually.
  • As time goes on, the human hit maturity – and this is the stage in the product life cycle stages the product is at is best.
  • Eventually human passes away – and again this is stage in the four product life cycle stages the product start dropping figures due to lack of patronization.

The lack of patronization maybe due to the following factors

  • Change in taste of the target audience,
  • Economy
  • Weather
  • The introduction of similar product with higher quality by competitors; with more attractive package and its also very affordable. And a few more others.

The basic difference between a man and a product is pretty simple. A product can slowly fade away due to factors such as the introduction of similar product and the likes. A typical example of a product or service that has gone through all of these stages is BLUCBUSTER (an American film company); more on this will be shared in this article.

WRONG FORMAT OF THE PRODUCT LIFE CYCLE STAGES EXPLAINED. (Read up to avoid making the same mistake)

In some text, you may come across or they may express the product life cycle stages in this format:-

  • Introduction,-Growth,-Competition,-Maturity-Decline.

In as much as the above product life cycle stages look or appear like the real deal, it has a particular issue argued by myself and other marketing experts; and the problem is the competition stage the format posses.

Every product at any stage in the market has competition. Be it in it’s introductory stage or maturity stage, there’s always a substitute to any product in the market. For example, lets say you happen to create a new type of soft drink which is ready for distribution to the target market; now your target market currently has other brands of soft drinks they are consuming before yours gets to them right? Of course they do. In essence, you’ll have to come up with a strategic format to make your target audience choose your newly introduce soft drink which is competing with already existing one’s in the market. In summary, the four product life cycle stage format which has the competitive stage is wrong and this is because all product faces competition no matter what stage they are.

Even if we assume your soft drink is the only available one in the market; That is, it has no competition; in little or no time, other organization (competitors) will discover the huge demand and of course profit and other benefit of the product. This will gear them into producing and introducing a competing product as soon as possible. Which ever way, there is no escaping competitors or competition in business.

Having said that, the correct format or generally accepted format of the product life cycle goes thus:-

  • Introductory stage-Growth stage- Maturity stage-Decline stage.

continue reading for more information on all of the above four product life cycle stages with examples.

Now without wasting anymore time, lets go straight into the business of the day.

Definition of PLC (product life cycle).

PLC can be define as the study of the life time process of a product. it can also be viewed as the period of time over which an item is developed, brought to market and eventually removed from the market.

FOUR STAGES OF PRODUCT LIFE CYCLE

STAGE 1) Introduction stage

The introduction/ introductory stage is the first of the product life cycle stages. And this is the stage in which the product is introduced or launched into the market for the very first time after prior research on all of its target audience. Of course a need as must have identified before the product creation but this stage still remains the most risky out of all the product life cycle stages. This is because the company or the marketers don’t know how well the product will do in the market. In essence, there’s a doubt if the consumers will appreciate and accept the product or not.

KEY FEATURES OF THE INTRODUCTORY STAGE

I. LOW SALES VOLUME:- Due to the fact that the product is just getting into the market, it’s impossible for it to record high sales. This is because many customers will like to purchase the product on trial (that’s in small quantity) to actually know it has all the necessary qualities or features.

ii. HIGH INVESTMENT OR COST:- The money invested at this stage in the product life cycle is always huge. Because the company’s or marketers will invest a lot to ensure the product is promoted properly in other to reach more audience. Not also forgetting the cost of production, tax, test marketing and other expenses.

iii. COMPETITION:- Like i said earlier there’s competitors at every stage in the product life cycle stages; however there will be little competitors at this stage because competitors are not fully aware of the to launch a competing one or modify their existing product.

STAGE 2) GROWTH STAGE:- Now the introduction stage is over and done with; this is the stage the product starts making significant improvement in the market. At the growth stage in the product life cycle stages, the product will start making better sales compared to the introduction stage. This is because consumers are now sure the product is good enough and they start buying in large quantity. A consumer who bought just one of your newly introduced beer last time is likely to buy two or three bottles this time because the product is now tested and trusted.

KEY FEATURES OF GROWTH STAGE

i. Increase in competition:- This is the stage your competitors are now aware of your product and because it’s growing signifies it’s a good product.

  • competitors are now likely to make research in other to introduce similar product that will outrank yours.

ii. increase in demand

iii. increase in sales

iv. Product awareness increase in the public:- The saying goes thus, a satisfied consumer will/ is likely to come back. Aside that a satisfied consumer is likely to tell/ recommended the same product to family and friends. In other words a satisfied can be an advertiser. For example, if mr brown loved your bear the last time he tried it, he’s likely to recommend same to his co-workers; by so doing, the public awareness of the product is growing steadily.

Stage 3) Maturity stage:- The early maturity stage is the stage every marketer or company will like to maintain for it product for ever.

  • This stage is when the product records it’s highest sales volume.
  • It’s also at this stage of the product life cycle stages the product has achieved total acceptance from it’s potential buyers; And this stage records a very high quantity of buyers returning to the product as solution to their needs/ problems.

FEATURES OF THE MATURITY STAGE IN THE PRODUCT LIFE CYCLE.

I. High competition:- This is the most competitive in all of the product life cycle stages; this is because lots of similar products are being introduced into the market by other organization.

  • A well planned and research marketing strategy is needed during this stage to maintain position in market.
  • Alterations and modifications of existing product to better satisfy your target audience is always a welcome idea; doing this will give a competitive advantage.
  • You may also want to indulge in institutional advertising, sponsorship of entertainment and entrepreneurship shows to remain relevant and also attract more consumers.

II. Less cost:-The maturity stage records a relatively low cost in terms of all round expenditures; most especially for the company / marketer. The reasons is simply because the product is now established and there is increase in revenue.

III. Penetration pricing:- Organization tends to reduce the product price to maintain consumers and also fight off competitors. For example lets say your beer was being sold at $20 at growth stage; in some cases you will be forced to reduce the price to $15. This is because they’ll be lots of similar products being sold at that price or less. In essence, price penetration is a strategy adopted by organizations in other to break into the market with a low price and also push out competitors. You may need to adopted the same strategy to remain in the market by reducing your price. Or increase the quantity of your product while maintaining it’s quality.

  • The aim of the organization is to extend the life cycle of the product. That’s why product alteration and modification is essential at this stage. example of product at this stage is coke. Introducing the zero coke from the main coke product has been a brilliant idea so far and this has kept them in the market.

STAGE 4 Decline stage:- The decline stage is also known as the saturation stage. And this is the stage in the product life cycle stages in which the sales and profit of the product is on the decrease. The reason for product decline maybe because all the customers who want to buy the product have all purchased it; or consumers are opting for similar product causing demand for your product to fall.

  • During this stage expenses/expenditure is very likely to equal and in due time may likely exceed revenue.
  • Therefore it’s advisable for you (the company) to neglect the product and focus on other projects; when it’s more likely the decline can’t be averted. However, the product can still be kept if only it will required Low Cost compared to revenue of production and promotion.

FEATURES OF THE DECLINE STAGE IN THE PRODUCT LIFE CYCLE

i. Low revenue:- There will be very low return of investment due to decline in sales.

ii. Market is saturated:- This simply means that there are lots of similar product with better features in the market leaving little or no room for your product to bounce back.

Note: in as much as the decline stage may appear as the end of the road, they are three (3) options the organization is left with.

(i) Engage in full rebranding and repackaging of the product. Doing this will extend the product life cycle as some customers will buy the product not knowing it’s something they’ve tried before. And it will also attract a few more individuals. for example, a product package with popular players with attract sport lovers, popular cartoon characters like ben 10 will do well with kids e.t.c.

(ii) Remove the product from the market entirely. There little to talk about. The idea thing is to stop further production of the product; and just try to sell out the existing one in the market.

That’s it on the last stage of the product life cycle stages.

Summary of the four product life cycle stages

Product life cycle stages

This chapter will be focused on the sales, cost, customer type, profits and competitors in each of the product life cycle stages.

However, first things first – meaning of PLC.

PLC simply refers to the study of the life span of product and its major purpose is to extend the stay of life span of the product in the market.

What are the 4 phases of the product life cycle?

There are four stages in the product life cycle are which are

i. Introduction stage

ii. Growth stage

iii. Maturity stage

iv. Decline stage.

1) The introduction stage is literally about the first time a product is launched / introduce into the market. it’s like when a child is given birth to.

  • sales:- sales i this stage is very low. This is due to the fact that people know little or nothing about the product.
  • cost are very high. Due to little or no sales, no substantial profit can be achieved at this product life cycle stage.
  • The customers at this stage are called innovators. Innovators are individuals who basically like to be the first individuals to own a product. They are usually rich and rely more on impersonal sources of information. They can viewed as risk takers too…
  • Competition at this stage is low; but there’s still competition because they are similar one’s (product) in the market.

2)  Growth stage:- This stage is about the improvement the product is making in the market.

  • Sales: There’s huge and rapid increase in sales at this stage compared to the introduction stage.
  • There’s increase in profit at this stage
  • Low/ average cost due to increase in profit.
  • The customers at this stage is called early adopters. They are also quick to buy new product and services and are key opinion leaders to their friends and neighbours.
  • Increase in competition.

3)  Maturity stage: This stage in the four product life cycle is known for its…

  • Increase in sales and high profit. this is because more customers are now aware of the product and repeat purchase is occurring.
  • High competition.
  • A relatively low cost is recorded at this stage.
  • The type of customers at this stage are known to be the combination of early majority and late majority. Early majority are the type of consumers that look to the innovators and early adopters to see if a new product or idea works out pretty good and begins to stand the test of time. In essence, these type of consumers are the observing type. They tend to stay back and watch how the innovators and early adopters are coping with the product before buying it.

WHILE

The late majority tends to purchase the product later than the average person. This type of consumers are hand to convince/ persuade into buying a new product.

4) Decline stage:- This is the last of the four stages of product life cycle. In summary, the decline of any product is due to lack of patronization and such arises when consumers have discovered similar product with better qualities.

  • Sales in this stage is declining (downward slope)
  • Profit is also declining or reducing
  • Competitors are declining in numbers.
  • The customers at this stage are called laggards. laggard are those who take very long period of time before purchasing a new product. some of them don’t even buy at all. laggards are usually of all the adopter categories. they also have strong brand loyalty for the innovation (new product) they adopt.

And that’s all on the four product life cycle stages. Share your thoughts on this article below. Thanks for reading and don’t forget to share.

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5 Stages To Consumer Adoption Process (with examples) /5-stages-to-consumer-adoption-process-with-examples/ /5-stages-to-consumer-adoption-process-with-examples/#respond Mon, 14 Jan 2019 00:59:36 +0000 /?p=2664 The adoption process can be defined as the series of stages which a potential consumer go through when deciding whether or not to buy or purchase a new product. In other words, the adoption process is the series of stages consumer go through before actually purchasing or rejecting a new product or service. The competition […]

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The adoption process can be defined as the series of stages which a potential consumer go through when deciding whether or not to buy or purchase a new product.

  • In other words, the adoption process is the series of stages consumer go through before actually purchasing or rejecting a new product or service.

The competition in today’s world in terms of product and services to satisfy consumers can’t be overemphasized.

Annually new product are thought of and produced after some time to satisfy a need that’s already being satisfied which opens consumers to various choices. These new products or services may come as fast or improved solutions to needs or customers problems. And like I said earlier exposing consumer to various choices to make.

For example, let’s take a look at Bicycles and motorcycles. Way back in time, bicycle was seen as a better solution to consumer mobility which involves trekking, riding on horses etc; And now we have motorcycles as improved solutions to bicycles which we can use to move from one place to another.

Now the series of stages a consumer is likely to go through before actually purchasing a new product or service perceived as an improved solution is what Adoption Process is about.

In addition, the stages are five [5] and are

  • Awareness
  • Interest
  • Evaluation
  • Trial
  • Adoption

Know the various methods adopted by companies to recruit new employees for top positions by clicking here

Continue reading for brief details on the 5 stages to consumer adoption process.

5 stages of consumer adoption process in marketing.

Stages 1. Awareness (product awareness): This is the stage where consumer gets to know about a product or service but lacks enough information about it.

  • In other words, this is the stage a consumer becomes aware a particular type of product but knows little or nothing the product or service.
  • Consumer becomes aware of product and services via radio and television commercials, internet, word of mouth, social media, newspapers, magazines etc

For example, While watching soccer Mr Smith saw a TV commercial on a mouth wash that reduces and eradicates tooth ache in two weeks.

Note: Mr Smith became aware of the new product (mouth wash) thanks to a TV commercial.

Stage 2. Interest (product interest) After becoming aware of a new product, a consumer is likely to be curious about such product. Therefore the interest stage is the stage where a consumer seeks more information about a new product or service.

  • This is the stage the consumer decides to acquire all of the information he lacks about the product like it size, place to the product, price, qualities etc.
  • Consumers are likely to get the needed information by checking up online reviews, asking friends and relatives, reading the details on the product package etc.

After watching the soccer game, Mr Smith then decides to call his girlfriend who is a dentist to seek more information about the mouth wash.

Step 3. Evaluation (product evaluation): At this stage, a consumer considers whether it’s a good idea to buy the new product or not based on the acquired information.

This is the stage Mr Smith will then ponder upon buying the new mouthwash – if it’s the right thing to do.

Stages Of Consumer Adoption Process

Consumer adoption process

Check out – things to consider before hiring new employees to avoid being sued.

Stage 4. Trial (product trial): After evaluating the product perhaps based on it price and features, this is the stage the consumer now buys the product on trial. In essence, the consumer purchases the product in small quantity to have a self / personal experience of it.

Mr Smith now decides to go to the store and buy a small portion of the new mouthwash he saw while watching soccer to know if it actually reduces toothache.

Stage 5. Adoption (product adoption): Adoption occurs in cases of successful trial. That’s if it happens that the consumer was satisfied with the performance (qualities) or outcome of the product the consumer will then purchase it in large quantity. But in cases where there’s trial was unsuccessful, the consumer won’t buy the product.

Mr Smith later purchased more if the mouthwash. This was because he actually felt a huge relief on his tooth after using the mouth wash he initially purchased on trial. In other words the trial was successful and adoption followed afterwards.

Moreover, there are some cases where the consumer adoption process in marketing is needless. For example, let say your wife asked you to buy a particular brand of diapers; in such a case there no time to start product evaluation. And that’s it on the five (5) to consumer adoption process in marketing.

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The Adoption process in marketing [5 Stages With Examples] /consumer-adoption-process-marketing-5-stages/ /consumer-adoption-process-marketing-5-stages/#respond Tue, 08 Jan 2019 01:44:37 +0000 /?p=2635 The 5 Stages To Consumers Adoption In Marketing Introduction This article won’t only be about consumer adoption process in marketing. But will also entail details like simple ways to promote a product which is beneficial to business owners and marketers. Therefore if you think you’ll like to know of some methods to getting more customers […]

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The 5 Stages To Consumers Adoption In Marketing

Introduction

This article won’t only be about consumer adoption process in marketing. But will also entail details like simple ways to promote a product which is beneficial to business owners and marketers.

Therefore if you think you’ll like to know of some methods to getting more customers and keeping them happy, you should consider reading on. But if not, I have prepared a pretty straight forward version on this topic for those who are not interested in marketing. You can navigate to the summary version of this article on 5 stages of consumer adoption process by clicking here. Trust me you would loved it.

Having said that, let’s now move forward to the reason you are here.

However, before we go into the business of the day I would like to share the meaning of some key terms in this article…

  • Consumer (Who is a consumer?)
  • Adoption process (What is adoption process in marketing)

Who is consumer?

A consumer can be defined as an individual who buy goods to satisfy personal needs / wants or that of his organization. In summary, a consumer is the end user of a product.

What is adoption process in marketing?

The adoption process in marketing can be defined as the series of stages which a potential consumer go through when deciding whether or not to buy or purchase a new product.

In summary, adoption process is the series of stages consumer go through before actually purchasing or rejecting a product.

Note: The product might have been around for a while but because the consumer had no idea of it, it is therefore perceived as a new product.

Therefore if you intend to know the various learning stages consumer go through before buying a product or rejecting it, you’re in the right place.

Consumer Adoption Process In Marketing.

Below are the five (5) stages to consumer adoption process with examples for better understanding.

Stage #1 Awareness.

Awareness is the stage of being conscious of something (product); or having knowledge about something.

  • In this stage, the consumer is just aware or knows about the existence of a product. But lacks enough knowledge about the product or service to actually patronize it immediately.

For example, It was just of recent I learnt one can actually go to school online and be offered a real certificate. After conducting a few research, I got to know that such program has been around for a while now. In all the years I wasn’t aware of such schooling opportunity, there’s no way I would have thought of enrolling; And now that I am aware, I’m likely to try it out.

  • What I want you to understand here is that getting to know that something (product or service) exist is the first stage in a consumer adoption process in marketing. And this is because a consumer can’t adopt or buy something he has zero / no knowledge about. In other words, end users cant purchase what doesn’t exist to them or are unaware of.

This is the stage marketers spend millions of dollars in making sure their product or service is known by their target audience. This is because they understand that demands can’t occur without awareness.

Below are some of the ways consumers becomes aware of various products.

  • Social media

Examples of social media platforms are Facebook, Twitter, Instagram, Wechat, whatsapp etc.

Marketers are aware of the increase in the usage of social media globally in the 21st century; And they are leveraging this platforms to create awareness about their product or service. Facebook has exposed millions of individuals to a lot of things…

I was going through my feeds one day on Facebook when I saw the online schooling advert I talked about earlier. And it was also on Facebook I got to know of a device called power bank you can actually use to charge your mobile phone when there’s power failure.

Therefore as a marketer, you should consider creating awareness for your product on social media.

  • Commercials: it’s an advertisement in a common media format usually radio or television.

I started blogging two years ago; and that’s was because I saw a T.v commercial on ways you can make money online while at home in which blogging was on the list. If it wasn’t for that commercial, perhaps I wouldn’t have known a thing about blogging.

In essence, radio and television advertisement are sure ways consumers becomes aware of various products. Therefore I’ll advice you adopt this strategy as a marketer by getting your products aired (advertised) on radio or television.

  • Word of mouth: This is a method of creating awareness which involves verbal means of passing information about a product or service. Consumers becomes aware of something (products or services) when someone tells or talks to them about it.

I was aware of hair creams, I mean different types of hair creams. But there was a time I wanted to boost my hair rapidly and didn’t know what to do or what to use. I was in a conversation with a guy at a football viewing center who suggested a particular brand of hair cream that enhances hair growth after talking to him about me wanting to boost my hair. Thanks to word of mouth, that was how I became aware of that product.

As a marketer, I’ll advice you gather a few persons around where your target audience are located to help spread the news of your product. Trust me it works.

Other sources of consumers awareness are

  • Magazines advertisement ( you can leverage this by paying for your product to be advertised on a popular magazine.
  • Newspaper (the same method for magazine advert goes for newspapers. Just make the brand has lots of readers or customers.
  • Website advertisement
  • Billboard adverts
  • Etc

In summary, awareness is the first stage of consumer adoption process in marketing. And it’s all about an end user (consumer) getting to know about a new product but lacks enough details about it.

Step #2 Interest

  • After being aware of a product or service a consumer think can satisfy him, he would want to know more about such product or service by seeking more information about it. And that’s basically what the second stage of the consumer adoption process is about.
  • In other words, interest is the stage the consumer seeks more information about a product he’s aware of because he’s interested in it.

I now know there’s an online schooling platform that works, now this is stage I seek more information about it to know what I’m getting into.

Another example.

A few months back, I heard a commercial on radio about an android phone with an installed app called the YouTube Go app. With this app, you can actually watch and save YouTube videos to share with friends when necessary. I thought the app was cool so i searched online to gather some information about the phone. All I did was type the phone’s name + specifications like this “itel x specifications”. That’s me seeking more information about a product because I’m interested in it.

Below are some of the ways consumers gets more information about a product.

  • Product package: A package simply means a container or rapper used to cover a product. A fancy product is good because it can interest consumers to want to know more about the product. And by checking the rapper or container of the product, the consumer can get to know what the product is all about or it’s contents.

For example, if you’re the type avoiding fat, you can check the container of that food or drink you’ll like to consume to know the fat percentage. The Information will enable you determine the level, amount or quantity you should buy and consume daily or weekly.

As a marketer you can also provide your customer care details on the package of your product. Something like a website, social media details etc. One which customers can visit to complain, give reviews or drop suggestions the product.

  • Reviews (it’s the feedback of a product from consumers who have patronized such product or service.

Note: Reviews can be offline or online.

It’s online when a consumer seeks information about the product on the internet maybe having searched the product via search engines like google bing etc. And it’s offline when the consumer decides to seek information about the product from individuals around; could be family members or friends, neighbors etc.

In situations whereby a consumer would like to purchase products like mobile phones, cars, chargers and other gadgets, reviews be it online or offline plays an important role. Therefore as a marketer, you should make sure your products has good reviews and this can be achieved by creating or promoting quality.

In a nutshell, Interest is the second stage of the consumer adoption process in marketing whereby a consumer seeks more information about a product; or wants to know more about a product by searching online or by getting the information offline by checking the product package, asking about it from individuals around etc.

Before buying a book, or that suit/dress for prom, expensive mobile phone, new house, mouth wash etc; Consumers would like to know a few details like the cost, where to purchase, its size etc.

In addition, this stage is like getting to know more about someone you just met. You can either go online to gather information about the individual via social media or ask a few persons around the neighborhood. Hope you got it now.

Consumer Adoption Process In Marketing.

Step #3 Evaluation.

  • After the consumer had successfully sought and found some information about the product, this is the stage they now decide if buying the product is the right thing to do or not.
  • During evaluation, consumers uses all of the information they’ve gathered about a product to judge the product.

Below are some of the key factors in product evaluation done by consumers marketers and business owners should be aware of.

  • Price: This is the amount or cost placed on a particular product. During product evaluation in a consumer adoption process, the cost / amount needed to purchase that product is always a major factor.

What’s the cost of the product? Because they can’t possibly buy something beyond their purchase power or out of their budget, consumers tend to evaluate a product based on its price value to know how much it will cost them.

For example, as at the time the latest iPhone was launched, I gathered the price of one iPhone is equivalent to a plot of land or two in some areas in my country. And that was why I decided to trash the idea of buy it and opted for an Android phone.

The point here is that just like me, other customers will always evaluate a product based on its price. So make sure your price is affordable by your target audience.

  • Place

Consumers are likely to buy a product that is closer to them than that which is far away. What I mean is an end user is like to purchase a product that available at a nearby store than that which is miles away. That’s why question like where can I even get this product pops up during product evaluation.

For example let say you gathered the new mouthwash you’re interested in will require you travel from Chicago to New York whenever you need it; you’d surely loose interest in such a product.

And that’s how it is really – Consumers will always consider the accessibility of a product when evaluating it. Therefore as a marketer or business owner make sure your products is close or even closer to your target audience. They shouldn’t have to go through hell to get it.

  • Qualities:

This shouldn’t come has a surprise, consumers will always want to know those special features a product has that differentiates it from others. As a marketer or a business owner, what makes your product stand out? What are those attributes your product has that similar ones don’t have?.

For example, let’s say Mr Chan is using a with the following specs – 16gb ram, and 1 terabyte Rom. Someone like is 90% likely to ignore other p.c’s with equal or lesser qualities.

This is because consumers are always looking for something better than whats currently available. Therefore the quality or qualities a product posses is a major factor during product evaluation in a consumer adoption process in marketing.

  • Quantity.

In as much as consumers value quality, they also appreciate quantity. This is because they would like to enjoy a product for as long as possible after purchasing it.

True life experience: I asked my sister to help me with a pack of coke on her way back from her trip. Upon her arrival, I was surprised when she handed me a pack of Bigi Cola (B. Cola) a similar product to coke. According to her there’s no difference in the quality (taste) of Coca Cola and Bigi Cola and Bigi Cola had more quantity. Moreover the Bigi Cola product with more quantity and same quality as coke was being sold for ₦100 while Coca Cola was ₦150. Which would you have bought?

The point is she evaluated the products based in their price quality and quantity and that’s what I want you to understand. And as a marketer you also consider all of the above.

In summary, evaluation is the third stage in a consumer adoption process in marketing; and it’s all about a consumer considering if or whether the product will make sense when purchased. Be aware that the qualities of the product, price, place and it quantity plays key roles in the product evaluation.

Step #4 Trial.

This stage in the consumer adoption in marketing doesn’t require much talk.

  • It is simply the stage where the consumer buys the product in small quantity / small scale to determine if it’s worth purchasing in large quantity.
  • The trial purchase or sample of the product will determine if the consumer will buy more of the product overtime.

An individual trying a new mouthwash is like to buy that product in small to actually determine it’s value.

The reason for that is because the consumer wants to have that self experience of the product.

  • The consumer wouldn’t want to make the mistake of purchasing in large and end up not liking the product. That’s why providing samples samples of your product to consumers is always a welcome idea. Now that’s all on the 4th stage of consumer adoption process in marketing.

Step #5 Adoption (product purchase)

This is the stage whereby the consumer decides to buy the product after due consideration of all of the above stages.

In essence, the adoption stage is the last and final stage in the consumer adoption process in marketing; and it’s in this stage the consumer decides to buy in large quantity and make full regular use of the product.

if after buying the product on trial the consumer gets to like it, this is the stage they purchase in large quantity and start using frequently.

  • Firstly as a marketer or business owner, it’s at this stage you need to make the payment process easy for the end user.
  • Secondly you should also make sure you maintain transparency in the price or cost of your product in cases of home delivery. What I mean is, make sure your customers are aware beforehand in situations where they’ll be extra charges during home deliveries.
  • lastly, you should endeavor to provide tips on how to use your products for maximum satisfaction or for best results.

If you’re into mouthwash you can always advice your customers to brush with it day and night for best results.

For products that requires installing, you can provide a manual or guide to help consumers have a clear understanding on how to do the installations themselves. While your contact details or that of an agent who can help out should be provided in situations where the consumer might need assistance.

Final words.

In as much as the adoption process in marketing is very important and useful, there are some cases where it’s not needed. For example, let say your mum asked you to buy her something; in cases like this the consumer adoption process is needless.

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