Section 8
The Spread of New Products
Book
Version 3
By Boundless
By Boundless
Boundless Marketing
Marketing
by Boundless
4 concepts
The Diffusion of Innovation
The diffusion of innovation theory seeks to explain how, why, and at what rate new ideas and technology spread through cultures.
The Rate of Adoption
The rate of adoption is defined as the relative speed with which members of a social system adopt an innovation.
Stages of Adopters
The stages of adopters for the diffusion of innovation include knowledge, persuasion, decision, implementation, and confirmation.
Applying the Diffusion of Innovation Theory
In applying the diffusion of innovation theory, it is important to understand potential adopters and their decision-making process.