Your organization develops new technologies and introduces them to the market through
your new products. The adoption of these new products is what
provides your financial returns.
The rate of market adoption for these new technology-based products follows a similar
s-curve pattern to the technology s-curve with the vertical axis representing the percentage
of one product that is being substituted by newer ones. During the growth phase of the new
technology, market penetration will depend on the need for the technology and the rate of
innovation within the industry.
Success in the marketplace is dependent on the adoption of your new technologies by users.
You can increase the potential rate of adoption of your technology-based product by:
- increasing the perception that your technology offers better advantages than those currently available
- ensuring that your technology is compatible with users' needs and values
- increasing the ease with which your technology (or product) is used
- avoiding the perception that your technology is complex to understand
- providing the opportunity for users to access the technology on a trial basis
- increasing the opportunity for your technology to be seen by users and its results observed by potential adopters [35].
How do your product introductions stake up? Develop a rating scale of 1 (low) to 5 (high)
using the above and other attributes. Spend a few hours rating the adoption potential of your
new technology-based products.
Alternatively, save your valuable time and get fresh insights by letting us do this for you.
info@strategies2innovate.com
Now learn about improving your product development process below.
