diffusion of innovation
Definition
Theory that every market has groups of customers who differ in their readiness and willingness to adopt a new product. And, that an innovative product spreads (diffuses) through a market not in one straight course but in successive, overlapping waves. Most populations show the following pattern in the adoption of new consumer goods: innovators (2 percent of population), early adopters (14 percent), early majority (34 percent), late majority (34 percent), and laggards (16 percent). See also adoption process.
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