class notes 3-3-09 - Markets Consumers WCOB 2013 Section...

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Markets & Consumers WCOB 2013 Section 005 3/3/09 Airwalk Days 3 & 4 Where we’ve been… -Ideas for new production form customization and personalization of exiting product -Young subcultures…understanding trends -Diffusion of innovations and Product Life Cycle (PLC) Terms for the Day -Diffusion of innovation -PLC -Classic Model of Communitcation Diffusion of Innovation- 5 Categories- each takes cues from categories before them -Innovators= 37% -Early Adopters= 14% - very beginning of mainstream - Opinion leaders - Early Majority= 34% - Late Majority= 34% - Laggards = 15% (may never adopt trend, new isn’t better, & price is important) Speed of Adoptions -relative advantage= advantage relative to existing product? -compatibility= is it compatible to existing systems? -trial ability= easy to try? -observability= obvious advantage? Study Graph p.282 PLC Experience Effect - happens during growth stage -sales and profits increasing R&D Pre Developme nt (BCG matrix = ? marks) Innovators Intro Stage No profit Recovering R&D Cost Early Adapters Growth Stage
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  • Spring '08
  • billthompson
  • Marketing, Diffusion of innovations, -Young subcultures…understanding trends, new production form

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