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Consumer adoption of technological innovations is the process consumers use to determine whether or not to adopt an innovation.This process is influenced by consumer characteristics, such as personality traits and demographic or socioeconomic factors, the characteristics of the new product, such as its relative advantage and complexity, and social influences, such as opinion leaders.
This model has been widely influential in marketing and management science. In 2004 it was selected as one of the ten most frequently cited papers in the 50-year history of Management Science. [3] It was ranked number five, and the only marketing paper in the list. It was subsequently reprinted in the December 2004 issue of Management Science. [3]
The technology adoption lifecycle is a sociological model that describes the adoption or acceptance of a new product or innovation, according to the demographic and psychological characteristics of defined adopter groups. The process of adoption over time is typically illustrated as a classical normal distribution or "bell curve".
Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers or simply Crossing the Chasm (1991, revised 1999 and 2014), is a marketing book by Geoffrey A. Moore that examines the market dynamics faced by innovative new products, with a particular focus on the "chasm" or adoption gap that lies between early and mainstream markets.
Chasm theory is only applicable to discontinuous innovations, which are those that impose a change of behavior, new learning, or a new process on the buyer or end user. And the pre-requisite for a chasm or gap to exist in the adoption lifecycle is the innovation must be discontinuous. [1]
Commercialisation or commercialization is the process of introducing a new product or production method into commerce—making it available on the market.The term often connotes especially entry into the mass market (as opposed to entry into earlier niche markets), but it also includes a move from the laboratory into (even limited) commerce.
Market segmentation is the process by which one divides prospective customers into different groups (segments) that have common needs and the same expected reaction to a marketing action. This approach enables companies to offer customers full value proposition of their products or services. [12] 7 Marketing P's.
The AIDA marketing model is a model within the class known as hierarchy of effects models or hierarchical models, all of which imply that consumers move through a series of steps or stages when they make purchase decisions. These models are linear, sequential models built on an assumption that consumers move through a series of cognitive ...