Question

DISCUSS POTENTIAL SOURCES, DRIVERS AND PATTERNS OF ADOPTION OF INNOVATION

Answer 1

American sociologist Everett Rogers developed a theory known as Diffusion of Innovation Theory. The theory observes how new ideas or innovations are adopted. According to Rogers, there are five attributes for the adoption of innovation: (1) relative advantage, (2) compatibility, (3) complexity, (4) trialability, and (5), observability.

Potential Sources

An innovation can be adopted by the group of people who are already using a similar product or idea. The amount needed to spend for the adoption of the innovation also decides people from which income group would embrace the innovation.

Drivers

According to the theory of perceived attributes, the adoption of innovation is driven by a set of principles. They are

*The innovation must show relative advantage over the existing product or idea.

*The innovation must be compatible with existing values and practices in the market or the society.

*The innovation should be simple or cannot be too complex.

*The innovation must show stable success in trials and can be tested for a limited time without adoption.

*There should be observable results for the innovation.

Patterns of adoption of innovation

An innovation is adopted in the society by a five layered process. These are the five patterns of adoption of innovation.

1. Innovators

Innovators are the very few people who first try a new product. They would be willing to take risk and would be risk excited by the possibilities of new ideas and new ways of doing things. They will be the financial elites in the society.

2. Early adopters

Early adopters follow the suite of the innovators only after understanding the success of the innovation. They are ready to invest an amount for a new product or idea, but are not ready to take risk.  

3. Early majority

Looking in to the early adopters, another group of people adopts the innovations. This group will have the maximum number of people than any other group.

4. Late adopters

Late adopters will think many times before spending their money on new products or ideas.

5. Laggards

Laggards are the people who always stay away from the changes. They are the last to arrive at the adoptioners. Their arrival is seen as a sign that the product is entering a decline stage.