The Spread of New Products - Deepstash
The Spread of New Products

The Spread of New Products

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The Diffusion of Innovation

The diffusion of innovation theory seeks to explain how, why, and at what rate new ideas and technology spread through cultures.

Diffusion is the process by which an innovation is communicated through certain channels over time among the members of a social system.

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Influential Elements on New Ideas Spread

  1. The innovation ā€“ an idea, practice, or object that is perceived as new by an individual or other unit of adoption.
  2. Communication channels ā€“ by which messages get from one individual to another.
  3. Time ā€“ the length of time required to pass through the innovation-decision process.
  4. Social system ā€“ a set of interrelated units that are engaged in joint problem solving to accomplish a common goal.ā€

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Stages of Adopters

Stages of Adopters

  1. Knowledge: first exposed to innovation but lacks information.
  2. Persuasion: interested in innovation and actively seeks information.
  3. Decision: decides whether to adopt or reject the innovation.
  4. Implementation: determines the usefulness of the innovation.
  5. Confirmation: finalizes his or her decision to continue using the innovation.

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Categories of Adopters

Categories of Adopters

  1. Innovators: The risk-taker. The first individuals to adopt an innovation.
  2. Early adopters: The opinion leaders. The second fastest category of individuals who adopt an innovation.
  3. Early majority: Individuals in this category adopt an innovation after a varying degree of time.
  4. Late majority: The skeptics. Individuals in this category will adopt an innovation after the average member of society does.
  5. Laggards: The old-fashioned. Individuals in this category are the last to adopt an innovation.

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