Diffusion Theory Explanation (skip 54 sec)
Diffusion of Innovation
1. Compatibility: How well does this innovation fit with existing values, patterns of behavior, or tools?
2. Trialability: Can you try it before you buy it?
3. Relative advantage: In what way is this innovation better than the alternatives?
4. Observability: Are its benefits noticeable? If someone else is using the innovation, can I see it being used?
5. Simplicity / Complexity: The easier it is to learn or grasp, the faster it diffuses.
With the ever-changing social norms in today’s modern world the innovation needs to correctly assemble itself in the fabric of society. If it generates any type of backlash or propaganda against the innovation it might not take off. Trialability is the action of putting the innovation through tests via the company. This term can also be installed with the public and consumers giving people a seed for their thoughts and ideas for what the innovation can help with.
Having an innovation that excites tends to be a leader in the list of other ideas. Having a relative advantage over other alternatives is a key to growing. Having aspects that make a idea even better to better suit different demographics will succeed in the end.
Observability and simplicity / complexity are concepts that correlate with each other. With observability if the benefits outweigh the negatives and it is noticeable within the market it has a high percentage of continuing to the last criterion term. If the innovation is easy to learn and grasp of how it works this will be an innovation that can change the time line.
Innovations are also reliant on the adapters of the technology. There are three types of people that help with the diffusion of an innovation. Early adopters are the demographic of people that quickly jump onto a new idea or innovation. This group is a key demographic for the succession of a innovation. These people are the ones to quickly talk about it and diffuse the idea. Late adopters are people that are reluctant to new ideas especially if they perfected their uses for other inventions. The individuals that are generally not interested in the idea typically live happy with what they have already and don’t need anything else.
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