aRKALKTvQaqOv2_qR2zB8w_9e1eb757215147d9bbe59656207107f1_Module-1-Lesson-2-Technology-Adoption-Life-Cycle.pptx

Technology adapti g cycle

1. LESSON 2 TECHNOLOGY ADOPTION LIFE CYCLE Prof. M. Krishna Erramilli Module 1 Innovation Strategy

2. MBA 706 Innovation & International Strategy Module 1: Innovation Strategy Module 2: Disruptive Innovation Module 3: Blue Ocean Strategy Module 4: Expanding Into International Markets Module 5: Competing in International Markets

3. Module 1: Innovation Strategy Lesson 1: The Innovation Imperative Lesson 2: Technology Adoption Life Cycle Lesson 3: Product Life Cycle

4. In this lesson… Learning Objective: You will be able to understand and explain the factors influencing the adoption of new technologies and why some innovations succeed while others do not. Topics: Technology Adoption Life Cycle The Chasm Crossing the Chasm

5. When A New Technology Is Introduced, It Goes Through An Adoption Life Cycle Early adopters, 13.5% Early majority, 34% Late majority, 34% Laggards, 16% Innovators, 2.5% MAINSTREAM MARKET

6. Adopter Categories Innovators (2.5% of adopters) : Typically younger, affluent, risk-takers and willing to try new things even if there's potential for failure. Early Adopters (13.5% of adopters) : Higher social status, financial liquidity, and are more socially forward than later adopters. They also have a closer social relationship with innovators. Early Majority (34% of adopters) : Adopt an innovation after a varying degree of time. They need to see evidence that the technology works before they adopt it. Late Majority (34% of adopters) : A pproach new technologies with a high degree of skepticism and will only adopt them after seeing many others use the innovation successfully. Laggards (16% of adopters) : These are the last to adopt an innovation. Many times, they have little to no social pressure to adopt new technologies, and they are very skeptical of innovations and change agents .

7. When is a new technology considered successful or not successful? Successful: When it is adopted by the mainstream market (early majority and late majority). Examples: Smartphones, Tablets, Electric Vehicles, Plant-Based Meats Not Successful: When it’s adoption does not move beyond the early adopters and fails to reach the mainstream market. Examples: Segway, Google Glass, 3D TVs

8. EARLY ADOPTERS EARLY MAJORITY CHASM Moore, Geoffrey A. 1991. Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers . HarperBusiness .

9. EARLY ADOPTERS EARLY MAJORITY TO SUCCEED, CROSS THE CHASM Moore, Geoffrey A. 1991. Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers . HarperBusiness .

10. The Chasm Early adopters, 13.5% Early majority, 34% Late majority, 34% Laggards, 16% Innovators, 2.5% MAINSTREAM MARKET CHASM

11. How Did Smartphones Cross the Chasm Addressing Mainstream Needs Ease of Use Expanding App Ecosystem Infrastructure Development Social Proof and Word-of-Mouth Price points and options Integration with Other Technologies Smartphones started to become central hubs for other technologies, such as wearables, smart homes, and in-car systems. This inter-connectivity increased their utility. Global Expansion

12. Lesson Summary Learning Objective: You will be able to understand and explain the factors influencing the adoption of new technologies and why some innovations succeed while others do not. Topics: Technology Adoption Life Cycle The Chasm Crossing the Chasm