Increasingly, marketers are finding it difficult to understand why positive attitudes and intentions towards really new innovations do not translate to actual purchases. The research highlights the effect of individual characteristics such as prior knowledge and consumer innovativeness on adoption intention of really new products/services; findings indicate that when evaluating a new product/service for possible adoption, cost is not an important consideration for individuals with high innovativeness trait, cost considerations are important only if the adoption is desirable (i.e. high level of benefit), but benefit considerations remain important whether cost is high or low. Also, the importance of cost considerations is found to increase as the time towards the anticipated adoption action decreases, whereas benefit considerations remain constant.
The research is important to marketing strategists who analyse consumer behaviour in an attempt to understand how benefit and cost are evaluated, and how timing of such evaluation may differentially affect adoption intentions and purchase actions. Understanding the factors that influence adoption intention for a new product/service can help marketers decide on the segmentation and positioning strategies and the timing of conducting effective market research studies and whether they may resort to time-based advertising strategies.
Reference to the research
Wang, Qing, Dacko, Scott and Gad Mohsen, Marwa (2008) Factors influencing consumers' evaluation and adoption intention of really-new products or services: prior knowledge, innovativeness and timing of product evaluation, Advances in Consumer Research, North America, 35, 416-422.