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Diffusion of Innovation

Diffusion of Innovation

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Categories:Types, Business/Law
Published by: guneettinna717 on May 18, 2010
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10/16/2011

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Diffusion of Innovation

Definition The diffusion of innovations is “the process by which an innovation is communicated through certain channels over time among the members of a social system” – Everett Rogers. “ The diffusion of innovation refers to the tendency of new products, practices, or ideas to spread among the people”-

Elements of Innovations
The Innovation Its communication In a social system Over a period of time

INNOVATION
Types: Continuous Innovation: These type of innovation is a simple changing or improving an already existing product where the adopter still uses the product in the same fashion as they had before. E.g. automobile industry. Dynamically Continuous Innovation: The innovation can either be a creation of a new product or a radical change to an existing one. E.g. compact discs. Discontinuous Innovation: This is for the totally new product.

Characteristics of Innovation
Relative Advantage Compatibility Complexity Divisibility Comminicability

Stages of Innovation
Awareness

Interest

Evaluation

Trial

Adoption

Adopters Categories Based On Innovations
Innovators: Highly risk taker, well educated and high

income. Approx 2.5% Early Adopters: Highly educated and high income but more visible. Approx 13.5% Early Majority: Don’t take the risk but accept the innovation before the average person. Approx 34% Late Majority: Jump after the average person. Limited education and income level. Approx 34% Laggards: More in tuned with the past than the future. Small education. Approx 16%

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