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Businesses have long been interested in the diffusion and adoption of product innovations. They are interested in understanding how innovations diffuse, so that they can better predict and manage this consumer adoption. A popular framework for this is the Consumer Adoption Lifecycle (or Product Lifecycle), which traces the adoption of a product as it passes through 5 categories of consumers. This is a viewpoint that focuses on people.
This document discusses a product-focused framework, called Rogers’ Five Factors. Developed by Everett Rogers, this framework proposes that the rate of innovation diffusion is largely driven by 5 product-based factors:
1. Relative advantage
This document explains the framework, provides examples, and includes PowerPoint templates that can be leveraged in your own analysis.