Factors that affect the rate of adoption of new products and services include an individual's readiness to try new things and personal influences from their social system, characteristics of the new innovation itself like how quickly it gains popularity, and an organization's openness to adopting innovations which depends on its environment, size, leadership, and other internal factors.

1. - Divyanshu Pal Nagar, IITK

2. 5.What factors affect the rate of diffusion and consumer
ADOPTION of Newly launched products and services ?

3. An INNOVATION is any good, service, or idea that someone perceives as new

4. The consumer-adoption process is the mental steps through which
an individual passes from first Hearing about an innovation to final adoption

5. Factors influencing the adoption process

6. Readiness to try new products and personal influence:
The degree to which an individual is relatively earlier in adopting
New ideas than the other members of his social system

7. Characteristics of the new innovation :
some products catch on immediately(roller blades),
whereas others Take a long time to gain acceptance(diesel engine autos)

8. Organizations’ readiness to adopt innovations :
Adoption is associated with variables
1. Organizations’ environment (community progressiveness, Community income)
2. The organization itself( size, profits, pressure to change)
3. The administrators (educational level, age, sophistication)