A New Product Can Be Defined as a Good

Published on May 2017 | Categories: Documents | Downloads: 29 | Comments: 0 | Views: 335
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A new product can be defined as A good, service or idea that is “perceived” by some potential customers as new. Research suggests that customers go through five stages in the process of adopting a new product 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) Adoption - the customer decides to make full and/or regular use of the new product

Make sense=be intelligible, justifiable, or practicable.

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