Recognizing opportunities - Industry analysis - Technology Adoption Lifecycle

7 important questions on Recognizing opportunities - Industry analysis - Technology Adoption Lifecycle

Wher does the technology adaption lifecycle (TAL) focuses on?

Types of customers involved in different phases of market introduction

Describe the curve of customers in the TAL

  • Innovators: highly motivated customers that like to experiment
The chasm: gap between the innovators and early adopters
  • Early adopters
  • Early majority: largest amount of costumers
  • Late majority
  • Laggards

What does the TAL describe?

The rate at which new products or services are adopted by potential users, instead of usual products and services
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Where depends the speed of adoption in the TAL on?

  • Nature of product
  • Technology
  • Customers

When is the market adoption faster?

  • Discrete technologies
  • Innovation doesn't depend on other technologies
  • Low price
  • Low switching costs
  • Customers understand the new product
  • Customers are wealthy
  • Customers accept the uncertainty of new product

What is needed for a succesfull introduction of a new product or service?

  • Right target market
  • Adapt product to the demands of mainstream customers

Why should companies avoid static estimations of markets and should understand technology diffusion and substitution (TAL)?

Because the market is dynamic

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