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In: Economics

Identify and discribe the Rogers’ five factors that influence diffusion process of innovation. Using an innovative...

Identify and discribe the Rogers’ five factors that influence diffusion process of innovation. Using an innovative product example, analyze the product using the five factors, and suggest your ideas to improve two of the areas among the five factors.

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Answer)

  • Following are the Rogers' five factors that influence diffusion process of innovation
  1. Innovation-One of the main factors is innovation itself,what is unique about the product which seperates it from the rest will be crucial in influencing diffusion process of innovation.
  2. Means of communication-Communication means are like what spreads your innovation so more and more people are aware about it and process has wider reach.
  3. Time period-It is the time which decides whether you were expecting things to be taken too quick or too slow,every innovation needs process and sufficient time to deliver results.
  4. Society-There are opinion makers,organizations,friends,family who play a part in this process,knowingly and at times unknowingly.
  5. Different Adopters-There are different type of adopters and their word of mouth especially if they are the first one to jump in is crucial for this process.
  • I would discuss about Alexa product,virtual AI developed by Amazon as follows
  1. Innovation-Product is unique and has a lot of new qualities in terms of you can carry a portable intelligent AI anywhere.
  2. Means of communication-It has been through Amazon 's own site,advertisements mostly,focus has been to use few channels only.
  3. Time-Alexa had been around for some time now with incremental changes being done and new features being added at regular intervals.
  4. Society-A very important part for Alexa is friends and family who play an excellent role as opinion makers.
  5. In terms of adopters,it has recieved positive word of mouth be it early adopters or late adopters.

Two of the factors I think Alexa can improve with is means of communication and innovation,in terms of communication it can show its innovation in movies,web series and reach a wider audience with subtle messaging,in terms of innovation it can look into adding major change apart from incremental changes such as Alexa exclusive meditation app or Alexa exclusive trading app which can make it interesting for a lot more audience.

Answer is complete.Thank you!


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