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The consumer adoption process and its various stages are as follows:
Consumer adopts the use of product according to his needs and his own decisions. Adoption process is just like an acceptance or innovation. On the basis of mental process and mental makeup or the perception, consumer will adopt the product or any brand. For a new product, adopters have been the observation from various stages such as the consumer when gets an information about the product, they get awareness about the product and thus they easily enters into the second stage of adoption process of the product. When the consumer seeks information about that innovation then he or she feels interest about that product in the mind of them. Thus when consumer thinks to try or to purchase that product, they enter the stage of evolution. When the consumer tries the product or tries to understand about its features to know or to improve his or her own values, then the consumer follows the concept of trial stage. Adoption is the final stage where the consumer seeks to purchase the product for their daily and regular use.
CRM, loyalty, advantage increases when the consumer accepts or influences the product. Thus there should be inter personal and intra personal influences need to be there to select the product variety and criteria. The information which the consumer receives from the purchaser is very important because it helps them to make the decision according to their needs and wants. Marketer should enhance the strategies of marketing to influence the consumer.
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Y= P(1+(r/100))^t
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The percent of sales one product earns in relation to total market sales for all products in that category.
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