Have you heard of the diffusion of innovation curve? I first encountered this model in my Intro to Marketing course last year (2017). I actually never realised that the model was more than 50 years old now! The curve illustrates visually some basic elements of a theory to describe the how and why, and at what rate, new technologies are distributed and accepted by society. I can see why a theory like this would have been developed post-WWII, as it was definitely a major era of innovation, and acceptance and diffusion of what were quite new technologies into the general consumer market was a really revolutionary thing in the 1950s.
So Let’s start with the Parameters
So the Model first captures the relative time scale in terms of when different types of people adopt technology. Then the curve also allocates a general ballpark in terms of relative percentages of the overall market share for a product or service. Obviously all the numbers are pretty streamlined and it forms a pretty neat curve. But I would like to look into the research that backs up the model at some stage. Continue reading