Determinants for adoption of new products: an empirical study on smart phone customers in Delhi NCR

Innovation is the key to satisfy consumer demand for new and better products. Hence it is pertinent to examine driving factors that affect consumers' purchase decisions for technologically advanced new products. This research aims to investigate factors influencing adoption of new products, particularly smartphones. Descriptive as well as causal methods of research have been adopted for this research. Researchers have used a self-administered survey for collecting data of customers who have recently purchased smartphones in Delhi National Capital Region (NCR). For this study, with a sample size of 254, convenient sampling has been used due to nature of the research. Key factors have been explained through intention to adopt (12.9%), motivated customer innovativeness (11.1%), financial risk (7.6%), functional innovativeness (7.5%), hedonic innovativeness (7.7%) and customer involvement (7%). In practice, findings of the present study would allow marketing managers in a deeper differentiation of the market and help them recognise highly creative consumer segments; this can, in turn, allow companies to plan effective marketing strategies, thereby leading to success of new products. Results of the study indicate that the eight factors used in the study have considerable influence (69% of total variance) on new product adoption in Delhi NCR.