What Factors Affect The RATE Of Diffusion &

Consumer Adoption Of Newly Launched Product

And Services?

Attributes of new products

Some product CATCH consumer attention very early while other take a while. Youth are

more enthusiast about the Smart Phones than Laptops.

Willingness to buy

Some people adopt the new products very early and others take a while.So, these are :

InnovatorsEarly

AdoptersEarly

MajorityLate

MajorityLaggards

Innovators

Technology Enthusiasts

Venturesome

Enjoy tinkering with new products

Early Adopters

Opinion Leaders

Search for new technologies.

Search for Dramatic

competitive advantage.

Early Majority

Deliberate Pragmatists.

Adopt new technologies only when benefits are proven.

Late Majority

Sceptical Conservative

Technological Shy

Risk Averse

Price Sensitive

Laggards

Tradition Bound

Innovation Resistive

Personal Influence

The effect one person has on another person’s attitude and especially on sales.

The effect is more profound on Late adopters than on early ones.

Recap

Factors affecting the rate of diffusion and Consumer Adoption of newly launched products and services:• Attributes of new products•Willingness to buy• Personal Influence

References• http://www.dafont.com/champagne-limousin

es.font• https://hbr.org/1998/07/another-look-at-how

-toyota-integrates-product-development• https://www.google.co.in/search?q=w+l+gore

&biw=1242&bih=566&source=lnms&tbm=isch&sa=X&ei=h5aCVdPkE8Pn8AWcyKkg&sqi=2&ved=0CAgQ_AUoAw#imgrc=_

• http://www.slideshare.net/IbadatSingh/challenges-to-new-product-development-file

• https://leantesting.com/resources/wp-content/uploads/2014/11/challenges-of-being-a-social-vendor.jpg

Disclaimer

Created by Aakash Tripathi, IIT(BHU), during an internship by Prof. Sameer Mathur, IIM Lucknow.