Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity, realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.
Product life-cycle management (PLM) is the succession of strategies by business management as a product goes through its life-cycle. The conditions in which a product is sold changes over time and must be managed as it moves through its succession of stages.
In business, diffusion is the process by which a new idea or new product is accepted by the market. The rate of diffusion is the speed with which the new idea spreads from one consumer to the next. Adoption is the reciprocal process as viewed from a consumer perspective rather than distributor; it is similar to diffusion except that it deals with the psychological processes an individual goes through, rather than an aggregate market process.
Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers or simply Crossing the Chasm, is a marketing book by Geoffrey A. Moore that examines the market dynamics faced by innovative new products, with a particular focus on the "chasm" or adoption gap that lies between early and mainstream markets.
Proof of concept, also known as proof of principle, is a realization of a certain idea, method or principle in order to demonstrate its feasibility, or viability, or a demonstration in principle with the aim of verifying that some concept or theory has practical potential. A proof of concept is usually small and may or may not be complete.
Commercialization or commercialisation is the process of introducing a new product or production method into commerce—making it available on the market. The term often connotes especially entry into the mass market, but it also includes a move from the laboratory into commerce. Many technologies begin in a research and development laboratory or in an inventor's workshop and may not be practical for commercial use in their infancy. The "development" segment of the "research and development" spectrum requires time and money as systems are engineered with a view to making the product or method a paying commercial proposition.
Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer's emotions, attitudes, and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–1950s as a distinct sub-discipline of marketing, but has become an interdisciplinary social science that blends elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics.
Everett M. "Ev" Rogers was an American communication theorist and sociologist, who originated the diffusion of innovations theory and introduced the term early adopter. He was distinguished professor emeritus in the department of communication and journalism at the University of New Mexico.
Diffusion of innovations is a theory that seeks to explain how, why, and at what rate new ideas and technology spread. The theory was popularized by Everett Rogers in his book Diffusion of Innovations, first published in 1962. Rogers argues that diffusion is the process by which an innovation is communicated thorough certain channels over time among the participants in a social system. The origins of the diffusion of innovations theory are varied and span multiple disciplines.
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. In essence, technological change covers the invention of technologies and their commercialization or release as open source via research and development, the continual improvement of technologies, and the diffusion of technologies throughout industry or society. In short, technological change is based on both better and more technology.
A technology evangelist is a person who builds a critical mass of support for a given technology, and then establishes it as a technical standard in a market that is subject to network effects. The word evangelism is borrowed from the context of religious evangelism due to the similarity of sharing information about a particular concept with the intention of having others adopt that concept. This is typically accomplished by showcasing the potential uses and benefits of a technology to help others understand how they can use it for themselves.
Phased adoption or phased implementation is a strategy of implementing an innovation in an organization in a phased way, so that different parts of the organization are implemented in different subsequent time slots. Phased implementation is a method of System Changeover from an existing system to a new one that takes place in stages. Other concepts that are used are: phased conversion, phased approach, phased strategy, phased introduction and staged conversion. Other methods of system changeover include direct changeover and parallel running.
Lead user is a term developed by American economist Eric von Hippel. His definition for lead user is:
- Lead users face needs that will be general in a marketplace – but face them months or years before the bulk of that marketplace encounters them, and
- Lead users are positioned to benefit significantly by obtaining a solution to their needs and so may innovate.
The technology adoption lifecycle is a sociological model that describes the adoption or acceptance of a new product or innovation, according to the demographic and psychological characteristics of defined adopter groups. The process of adoption over time is typically illustrated as a classical normal distribution or "bell curve". The model indicates that the first group of people to use a new product is called "innovators", followed by "early adopters". Next come the early majority and late majority, and the last group to eventually adopt a product are called "Laggards" or "phobics." For example, a phobic may only use a cloud service when it is the only remaining method of performing a required task, but the phobic may not have an in-depth technical knowledge of how to use the service.
Frank M. Bass was an American academic in the field of marketing research and marketing science. He was the creator of the Bass diffusion model that describes the adoption of new products and technologies by first-time buyers. He died on December 1, 2006.
In social dynamics, critical mass is a sufficient number of adopters of a new idea, technology or innovation in a social system so that the rate of adoption becomes self-sustaining and creates further growth. The point at which critical mass is achieved is sometimes referred to as a threshold within the threshold model of statistical modeling.
Eco-innovation is the development of products and processes that contribute to sustainable development, applying the commercial application of knowledge to elicit direct or indirect ecological improvements. This includes a range of related ideas, from environmentally friendly technological advances to socially acceptable innovative paths towards sustainability. The field of research that seeks to explain how, why, and at what rate new "ecological" ideas and technology spread is called eco-innovation diffusion.
The following outline is provided as an overview of and topical guide to marketing:
The technology life cycle (TLC) describes the commercial gain of a product through the expense of research and development phase, and the financial return during its "vital life". Some technologies, such as steel, paper or cement manufacturing, have a long lifespan while in other cases, such as electronic or pharmaceutical products, the lifespan may be quite short.
The sociological theory of diffusion is the study of the diffusion of innovations throughout social groups and organizations. The topic has seen rapid growth since the 1990s, reflecting curiosity about the process of social change and "fueled by interest in institutional arguments and in network and dynamic analysis." The theory uses a case study of the growth of business computing to explain different mechanisms of diffusion.
