June 26, 2016

Adoption theory

Product adoption theory

Adoption theory  is aimed at understanding, explaining, or predicting how, why, and to what extent individuals or organizations will adopt or purchase new offerings.

According to the adoption theory, there are multiple factors involved in influencing product or service adoption by an individual or organization and theories of adoption recognize all these factors. The knowledge and experience of the prospective adopter, the degree of innovation that is communicated by a new product or service offering and the extent that a potential adopter values innovativeness are just some examples of potentially influential factors in determining the rate and extent of adoption.

To facilitate new product adoption and make appropriate plans for the expected rate of adoption proper understanding, explaining, and predicting individual or organizational adoption is necessary, and this is what motivates the marketers to research the factors responsible for adoption by individuals or organizations in a given market. Knowledge of the adoption process as well as buyer influences and readiness can be highly beneficial in this regard.

Related  Characteristics of Business Market

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