L5 Diffusion of innovation

Question 1

What is diffusion?

Answer 1

Spread of innovation

Question 2

What are the steps in diffusion?

Answer 2

Idea
Knowledge
Persuasion
Decision
Implementation
Confirmation

Question 3

What are 5 groups of consumers?

Answer 3

Innovators
Early adopters
Early majority
Late majority
Laggards

Question 4

How do laggards help

Answer 4

• Advantage of laggard = critical
  
  • Listen to laggards for development of next product
  • Laggards help build 2nd development pipeline

Question 5

What are 6 factors that increase diffusion?

Answer 5

Relative advantage
Observability
Trialability
Compatibility
Simplicity
Low risk