diffusion of innovation definition

diffusion of innovation

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.

diffusion of innovation is in the Advertising, Marketing, & Sales and Economics, Politics, & Society subjects.

diffusion of innovation appears in the definitions of the following terms: laggards, innovators, early adopters, adopter categories, adoption of innovations, late majority and early majority

This content can be found on the following page:

http://www.businessdictionary.com/definition/diffusion-of-innovation.html