What are the five characteristics that are especially important in influencing an innovations rate of adoption?

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Environment :
Marketing Stimuli
Product, Price, Place, Promotion
Other
Economic, technological, social, cultural

Buyers Black Box:
Buyers characteristics, buyers decision Process

Buyer Responses
buying attitudes and preferences purchase behavior: what the buyer buys, when, where, and how much brand engagements and relationships
:

1. Segmenting Consumer Markets
- there is no single way to segment a market. a marketer has to try different segmentation variables alone and in combination to find the best way to view market structure
2. Segmenting Business Markets
- Business markets can be segmented geographically, demographically, or by benefit sought, user status, usage rate, and loyalty status. yet business marketers also use some additional variables, such as customer operating characteristics, purchasing approaches, situational factors, and personal characteristics.
3. Segmenting International Markets
- few companies have either the resources or the will to operate in all or even most, of the countries that dot the globe. Companies can segment international markets using one or a combination of several variables.

1. Geographic ( nations, religions, states, counties, cities, neighborhoods, population density (urban, suburban, rural) climate)
2. Demographic ( age, life cycle stages, gender, income, occupation, education, religion, ethnicity, generation)
3. Psychographic ( social class, lifestyle, personality)
4. Behavioral ( Occasions, benifits, user status, usage rate, loyalty status)

Sets with similar terms

Rogers’ four main elements that influence the spread of new ideas (innovation, communication channels, time and a social system) rely heavily on human capital. The ideas must be widely accepted in order to be self- sustainable. Designers must consider various cultures and communities to predict how, why and at what rate new ideas and technology will be adopted.

By categorizing consumers, the designer can identify particular segments with a market sector to gain feedback. By engaging with these stereotypes, the designer can utilize their experiences with a prototype in order to guide further development.

Diffusion and innovation

Diffusion is  the wide acceptance and sale of a product or innovation.

A good article from PSU

The impact of Rogers’ characteristics on consumer adoption of an innovation

Rogers’ Characteristics from the Open University

The impact of Rogers’ characteristics on consumer adoption of an innovation can be considered in terms of:

• Relative advantage – is the  “the degree to which the innovation is perceived as better than the idea it supersedes. Relative advantage refers to the extent to which the innovation is more productive, efficient, costs less, or improves in some other manner upon existing practices”.
  • An example on the Open Uni
• Compatibility – is ‘the degree to which the innovation is perceived as being consistent with existing values, past experiences, and needs of potential adopters.  An innovation must be considered socially acceptable to be implemented. And some innovations require much time and discussion before they become socially acceptable’.
  • An example on the Open Uni – the mobile phone.
• Complexity (simplicity) – is “the degree to which the innovation is perceived as difficult to understand and use”.
  • An example on the Open Uni – GUI (Graphic User Interface) of the Apple computers allowing users to pint and click and what they can see.
• Observability – is “the degree to which the results of the innovation are visible to others. The chances of adoption are greater if folks can easily observe relative advantages of the new technology. In fact, after some adopt, observability can improve the diffusion effect, a critical component of technology transfer”.
  • An example on the Open Uni – Solar panels on roofs.
• Trialability – is “the degree to which the innovation may be experimented with on a limited basis. Innovations are easier to adopt if they can be tried out in part, on a temporary basis, or easily dispensed with after trial”.
  • An example on the Open Uni – test driving a car.

Quoted from http://www.soc.iastate.edu/sapp/soc415Diffusion1.html

“In general, innovations that are perceived as having relative advantages, being more compatible, less complex, observable, and trialable will diffuse more rapidly than other innovations.In general, innovations that are perceived as having relative advantages, being more compatible, less complex, observable, and trialable will diffuse more rapidly than other innovations.” – Open Uni

Social roots of consumerism

• lifestyle
• values
• identity

Issues for companies in the global marketplace when attempting to satisfy consumer needs in relation to lifestyle, values and identity

The influence of social media on the diffusion of innovation

Consumers can influence diffusion of innovation. When considering the influence of social media in rallying support for boycotting of some products/systems, students can explore the concepts behind organizations such as Kickstarter, Sellaband, Seedrs and CrowdCube, which act as crowd-funding platforms for creative products and projects. They can also examine the role of social networks such as Facebook®, LinkedIn® and Twitter® as methods of raising brand awareness.

The influence of trends and the media on consumer choice

Students will need to consider how consumer choices are influenced by trends and the media, including advertising through magazines, television, radio, sponsorship and outdoor advertising; product placement through film and television; product endorsement; and so on.

Categories of consumers

This in relation to how  adopt consumers technology:

• Innovators (risk takers) – are the first individuals to adopt an innovation. They are willing to take risks.
• Early adopters (hedgers) – are the second fastest category to adopt an innovation.
• Early majority (waiters) – the third group, tends to take more time to consider adopting new innovations and is inclined to draw from feedback from early adopters before taking the risk of purchasing new products/systems.
• Late majority (skeptics) – adopts the innovation after it has been established in the marketplace and is seldom willing to take risks with new innovation.
• Laggards (slow pokes) – are the last to adopt an innovation. They tend to prefer traditions and are unwilling to take risks.

International-mindedness:

The origin of Rogers’ theory in one or two areas may lead to inappropriate application on a global basis. Positive and negative aspects may be opposite in different regions/countries.

Theory of knowledge:

Design takes into account cultural differences. Are other areas of knowledge universal or culture specific?

 Something extra

What are the five characteristics that influence the rate at which an innovation is adopted by the target user?

What are the five factors that influence the rate of the new product adoption?

What are the 5 characteristics of the adoption level?

What are the 5 stages involved in innovation adoption process?