- Divyanshu Pal Nagar, IITK

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

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

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

Factors influencing the adoption process

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

Characteristics of the new innovation :

some products catch on immediately(roller blades), whereas others Take a long time to gain acceptance(diesel engine autos)

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)