What is Consumer Adoption Process?
Consumer Adoption Process, also known as the Consumer Adoption Cycle is basic and important in marketing, consumer behaviour, sociology, and innovation studies that specify the steps or stages of the process of consumer adoption that an individual has to go through while deciding to purchase or adopt a new product, service, technology, or idea. This process is helpful for businesses and marketers to better understand the consumer’s decision-making process and the factors that influence their choices while adopting something new. This makes it easier for marketers and businessmen to efficiently set strategies to select and persuade their target customers at the necessary stages. It indicates a detailed journey of the consumer from being informed about the product to purchasing or using it. This process is adopted by many organisations that help them strategise their ways to approach customers regardless of the change in technology, market scenario. etc.