5.2 Innovation

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Description and Tags

Effective communication of the product idea/design is required to transform an invention into an innovation

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5 Terms

1
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diffusion

spreading knowledge of an innovation development through consumer/target market over time to enhance adoption

2
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diffusion: networking effect

communication among consumers through social networking
- e.g. social media influencers, sponsorships

3
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perception

key to adoption, users must see innovation as desirable

4
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suppression

suppressing innovation due to patent/infringement uncertainty and potential litigation

5
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suppression disadvantages

makes product less viable, discourages others from entering market