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Diffusiono finnovation

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Avinash Chandra

The document discusses the diffusion of innovation theory and the adoption process. It explains that there are five stages in the innovation adoption process: innovators, early adopters, early majority, late majority, and laggards. The four main elements that influence the diffusion of innovations are the innovation itself, communication channels, time, and the social system. The adoption process involves five steps - awareness, interest, evaluation, trial, and adoption or rejection. Certain personality traits and types of individuals like opinion leaders, market mavens, change leaders, and technophiles help drive the adoption of new innovations.

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CONSUMER BEHAVIOUR PRESENTATION ON DIFFUSION OF INNOVATION
What is Innovation??? Transformation of an idea into something useful. There are two different kinds of innovations 1.New things 2.Development of new things.
Diffusion of Innovation The diffusion of innovations theory seeks to explain how and why new ideas and practices are adopted, with timelines potentially spread out over long periods. It is designed in two process: 1. Diffusion 2. Adoption
Stages in innovation Innovators Early adopters Early majority Late majority Laggards.
The diffusion process The innovation Various approaches have been taken to define new product: 1.Firm oriented 2.Product oriented 3.Market oriented 4.Consumer oriented The channels of communication The social system Time
The diffusion process The innovation how quickly innovation spread depends on channel on communication. There are two sources for communication: I. Impersonal II. Interpersonal The social system Time
The diffusion process The innovation It is a physical, social or cultural environment in which people belong and within which they function: It can be of two type : I. Traditional social system II. Modern social system The channels of communication Time
The diffusion process The innovation Backbone of diffusion process. it pervades the study of diffusion in three distinct ways : 1. The amount of purchase time. 2. The identification of adopter categories 3. The rate of adoption. The channels of communication The social system
Product characteristics that influence diffusion Relative advantage Compatibility Complexity Trialability Observability Resistance to innovation
Stages in adoption
Adoption process Consumer in first expose to the product innovation. Lacks in information about the product May only know the name of product and its basic features. Interest Evaluation Trial Adoption or Rejection
Adoption process Awareness Consumer is interested in product and search for additional information. He wants to know what is it, how it works and what its potentialities are. Evaluation Trial Adoption or Rejection
Adoption process Awareness Consumer decides whether or not to believe this product or service. Will it satisfy his needs and requirements. Individual makes a mental trial of the idea Interest Trial Adoption or Rejection
Adoption process Awareness Consumer uses the product on a limited basis. During this stage the individual determines the usefulness of the innovation and may search for further information about it. The trial stage is characterized by small-scale experimental use, when its possible. Interest Evaluation Adoption or Rejection
Adoption process Awareness If trail in favorable consumer decides to use the product If unfavorable the consumer decides to reject it. Interest Evaluation Trial
Consumer innovator Small group of consumer who are the earliest purchase of the new product. Earliest customer can be defined in may ways : First 2.5% of the social system Status of the new product investigation Innovativeness .
Opinion leader Individual whose ideas and behavior serve as a model to others. The innovator is an opinion leader. When innovators are enthusiastic they might encourage other to buy it. For products that do not generate much excitement consumer innovators might not be sufficiently motivated to advice it.
Market mavens Special category of consumer influencer. Posses a wide range of information about different type of products, retail outlet etc. Like to shop and share shopping. Not primarily concerned with price.
Personality traits Personality traits that have been useful in differentiating consumer innovators and non innovators include: Consumer innovativeness Dogmatism Social character Need for uniqueness Optimum stimulation level
Change leaders Also know as high-tech innovators. Such individuals tend to embrace and popularize many of the innovation that are ultimately excepted by mane frame population such as computer, fax machine etc. They fall into two distinct group: 1. Younger group 2. Middle-aged group
Technophiles Those individuals who purchase technologically advance product soon after their market debut. They tend to be technically curious people. These consumers are typically younger, better educated and more affluent.
Managerial application Marketing research Development of new product Reviews of product
References 1. Consumer Behaviour by Leon G. Schiffman and Lesile Lazar Kanuk. 2. Marketing Innovation by Davila Estein,Shelton 3. Consumer Behavior in Indian perspective by Suja nair
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Diffusiono finnovation

  • 2. What is Innovation??? Transformation of an idea into something useful. There are two different kinds of innovations 1.New things 2.Development of new things.
  • 3. Diffusion of Innovation The diffusion of innovations theory seeks to explain how and why new ideas and practices are adopted, with timelines potentially spread out over long periods. It is designed in two process: 1. Diffusion 2. Adoption
  • 4. Stages in innovation Innovators Early adopters Early majority Late majority Laggards.
  • 5. The diffusion process The innovation Various approaches have been taken to define new product: 1.Firm oriented 2.Product oriented 3.Market oriented 4.Consumer oriented The channels of communication The social system Time
  • 6. The diffusion process The innovation how quickly innovation spread depends on channel on communication. There are two sources for communication: I. Impersonal II. Interpersonal The social system Time
  • 7. The diffusion process The innovation It is a physical, social or cultural environment in which people belong and within which they function: It can be of two type : I. Traditional social system II. Modern social system The channels of communication Time
  • 8. The diffusion process The innovation Backbone of diffusion process. it pervades the study of diffusion in three distinct ways : 1. The amount of purchase time. 2. The identification of adopter categories 3. The rate of adoption. The channels of communication The social system
  • 9. Product characteristics that influence diffusion Relative advantage Compatibility Complexity Trialability Observability Resistance to innovation
  • 11. Adoption process Consumer in first expose to the product innovation. Lacks in information about the product May only know the name of product and its basic features. Interest Evaluation Trial Adoption or Rejection
  • 12. Adoption process Awareness Consumer is interested in product and search for additional information. He wants to know what is it, how it works and what its potentialities are. Evaluation Trial Adoption or Rejection
  • 13. Adoption process Awareness Consumer decides whether or not to believe this product or service. Will it satisfy his needs and requirements. Individual makes a mental trial of the idea Interest Trial Adoption or Rejection
  • 14. Adoption process Awareness Consumer uses the product on a limited basis. During this stage the individual determines the usefulness of the innovation and may search for further information about it. The trial stage is characterized by small-scale experimental use, when its possible. Interest Evaluation Adoption or Rejection
  • 15. Adoption process Awareness If trail in favorable consumer decides to use the product If unfavorable the consumer decides to reject it. Interest Evaluation Trial
  • 16. Consumer innovator Small group of consumer who are the earliest purchase of the new product. Earliest customer can be defined in may ways : First 2.5% of the social system Status of the new product investigation Innovativeness .
  • 17. Opinion leader Individual whose ideas and behavior serve as a model to others. The innovator is an opinion leader. When innovators are enthusiastic they might encourage other to buy it. For products that do not generate much excitement consumer innovators might not be sufficiently motivated to advice it.
  • 18. Market mavens Special category of consumer influencer. Posses a wide range of information about different type of products, retail outlet etc. Like to shop and share shopping. Not primarily concerned with price.
  • 19. Personality traits Personality traits that have been useful in differentiating consumer innovators and non innovators include: Consumer innovativeness Dogmatism Social character Need for uniqueness Optimum stimulation level
  • 20. Change leaders Also know as high-tech innovators. Such individuals tend to embrace and popularize many of the innovation that are ultimately excepted by mane frame population such as computer, fax machine etc. They fall into two distinct group: 1. Younger group 2. Middle-aged group
  • 21. Technophiles Those individuals who purchase technologically advance product soon after their market debut. They tend to be technically curious people. These consumers are typically younger, better educated and more affluent.
  • 22. Managerial application Marketing research Development of new product Reviews of product
  • 23. References 1. Consumer Behaviour by Leon G. Schiffman and Lesile Lazar Kanuk. 2. Marketing Innovation by Davila Estein,Shelton 3. Consumer Behavior in Indian perspective by Suja nair