Explain the Stages in the Adoption of a New Product

question 61

Essay

Explain the stages in the adoption of a new product and the appropriate marketing strategies at each stage.

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Definitions:

Negotiate

The process of discussing something with someone to reach an agreement or compromise.

Agreements

Formal arrangements made between two or more parties that specify and regulate the terms of a relationship or transaction.

Communication Process

The exchange of information and understanding from one person or group to another through verbal, non-verbal, or written mediums.

Sender

In communication, the sender is the person who initiates the message or communication process by encoding and transmitting the information.