5.6 Rogers characteristics of innovation and consumers

Rogers characteristics

Probers five characteristics idnetified by Roger’s that impact on consumer adoption of an innovation:

1. Innovation/ relative advantage

2. compatibility

3. Complexity

4. Observability

5. Trialability

The five characteristics

• Innovation/ relative advantage: the degree to which an innovation is perceived better than the idea it supersedes. It refers to how much less costly, productive, sufficient than the previous ideas.

• Compatibility: the degree to which an innovation is perished consistent to values, past experiences, and needs of potential adopters . It must be considered socially acceptable

• Complexity: the degree to which an innovation is considered difficult to use and understand.

• Observation: the degree to which an innovation results are visible to others. The chances of a product being observed by folks increases its chances of diffusion in the market.

• Trialability: the degree to which an innovation can be experimented with on a limited basis

Consumerism

set of behaviors found in all cultures based around consumptions of goods and services

Social roots of consumerism

Consumerism is concerned with the safety of consumers when there is an exchange relationship. The social roots of consumerism can be traced through:

• performance gaps

• intrusion of privacy

• different views of the market place

• Disillusionment with the system

The influence of social media on the diffusion of innovation

• Consumers can influence the diffusion of an innovation.

• As individuals can rally and boycott through social media.

• Students can use crowdfunding platforms for products and services projects.

• Platforms can also be used for brand awareness

The influence of trends and the media on consumer choice

Need to consider how trend s and media can influence consumer choice, including:

• media

• magazines

• Television

• radio

• Sponser

• Placement of product through films and television

Categories of consumers

Innovators (risk takers): usually investors and are usually the first individuals to adopt an innovation.

Early adopters (hedgers): the second fastest category to adopt an innovation

Early majority (waiters): take more time to consider adopting innovations and is inclined to draw feedback from early adopters before taking risks

Late majority (skeptics) adopt innovations after it has been established in the market place

Laggards: last to adopt. Prefer traditions and are unwilling to take risks.