The Model of An Innovation Curve

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TEAM STARTUPED 12 Jan 2022 . 1 min read
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    Innovation Curve is a model that helps a business innovation to understand how a buyer adopts and engages wi1th new products or technologies over time. Companies will use it when launching a new product or service, adapting it or introducing an existing product into a new market. It shows how the product can be adopted by five different categories/customer types and how to engage as a business with these types of people. Diffusion occurs through a five-step decision-making process. It occurs through a series of communication channels over a period of time among the members of a similar social system. An individual might reject an innovation at any time during or after the adoption process.

    5 Stages Of The Process

    • Knowledge
    The individual is first exposed to an innovation but lacks information about the innovation. During this stage, the individual has not yet been inspired to find out more information about the innovation.
    • Persuasion
    The individual is interested in the innovation and the actively seeks related information/details.
    • Decision
    The individual takes the concept of the changes and weights the advantages/ disadvantages of using the innovation and decides whether to adopt or reject the innovation. Due to the individualistic nature of this stage, Rogers notes that it is the most difficult stage on which to acquire empirical evidence.
    • Implementation
    The individual employs the innovation to a varying degree depending on the situation. During this stage, the individual also determines the usefulness of the innovation and may search for further information about it.
    • Confirmation
    The individual finalizes his/her decision to continue using the innovation. This stage is both intrapersonal and interpersonal; confirmation the group has made the right decision.

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