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BIG,Innovation Diffusion,Rogers Five factors


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BIG,Innovation Diffusion,Rogers Five factors

  1. 1. INNOVATION DIFFUSIONRogers Five FactorsBy- Group 11Business Innovation & Growth
  2. 2. INTRODUCTION Categorization of innovators There is a smooth transition between the groups
  3. 3.  The better understanding of the factors can result in o Better anticipate the likelihood to accept and innovation o Proactively develop a new product so as to increase the likelihood of adoption o Tailor one’s marketing strategy to leverage those factors on which innovation does well and overcome them
  4. 4. ROGERS’ FIVE FACTORS According to many technologists innovations sell themselves. The five factors given by rogers in 1960s, these largely governed the rate of diffusion  Relative Advantage  Compatibility  Complexity  Trialability  Observability
  5. 5. RELATIVE ADVANTAGE The degree to which an innovation is perceived as better than the idea precedes(Rogers 1995). Mostly is viewed as an economic benefit of an innovation to thee alternative it seeks to replace. Regardless the economic benefit, as the relative advantage of the innovation increases, the rate of adoption should also increase.
  6. 6. COMPATIBILITY An innovation is perceived as consistent in existing values and experiences of the potential adopter(rogers 1955) This could be with the existent ideas, values and beliefs, or with one’s needs. In spite of exceptions, it is generally accepted that the compatibility of an innovation with existing concepts, habits, and experience increases, the rate adoption also increases
  7. 7. COMPLEXITY An innovation is perceived as relatively difficult to understand and use. According to the relationship between complexity and adoption, as the complexity of an innovation in creases, the rate of adoption decreases.
  8. 8. TRIALABILITY An innovation may be experimented with on a limited basis Also, as the trialability of an innovation increases, the rate of adoption increases.
  9. 9. OBSERVABILITY The results of the innovation are visible to others As a result the more visible or observable the usage and outcome of an innovation, the greater the rate of adoption
  10. 10. PRODUCT BASED AND PEOPLE BASEDAPPROACH TO UNDERSTANDINGDIFFUSION In reality, both the approached offer valuable tools for managing the diffusion of any innovation. By following Rogers’ five factors a manager can better understand and possible enhance the product itself.