The theory that seeks to explain the adoption process of an innovative product or service over time among a group of potential buyers is known as the diffusion of innovations theory which consists of five stages: innovators,early adopters,early majority,late majority and laggards.

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Before entrepreneurs or established marketers invest in the development and introduction of an innovation, they want to know how rapidly the innovation is likely to be adopted by the target market. The diffusion of innovation theory has five stages in the adoption process: awareness, interest, evaluation, trial and adoption.

The Theory That Seeks to Explain the Adoption Process of an Innovative