Create the value Free Essay Example, 2500 words

The degree to which customer perceive a new product or service as superior to similar existing products determines the relative advantage. A product or a service that provides an advantage over an already product offering is said to be greater than the existing market alternatives. Thus, the product is said to be great in terms of value as compared to other market products. b) Compatibility: The compatibility of the inventive product and service offering with the current backgrounds, behavior and routine patterns of consumers also affects its acceptance by the public. A product’s or service’s compatibility measures how closely it relates to needs, value systems and norms, lifestyles, culture, etc. when the levels of compatibility are high rate diffusion is going to be high. Is going to be; and likewise lower the compatibility, the lower the diffusion rate. c) Complexity The levels of complexity in a commodity, buying and usage affect the rate diffusion process of the product. An established innovative of a product is quickly diffused when there exist an ease of understanding, buying and usage of a product. We will write a custom essay sample on Create the value or any topic specifically for you Only $17.96 $11.86/pageorder now When it is easier to understand the usage a commodity, the more likely It’s going to be accepted and liked by consumers. However, it’s of paramount importance to note that technological complexity is a barrier to the diffusion process. Users tend to resist adoption of new products and innovation in the market because of fear of complexity in the purchase and consequent usage of the new product. High technological firms easily understand this d) Trialability: This is the ease with which the service or a product can be tried and tested. This aspect critically determines the rate of acceptance of a new product. When the degree of trialability is considerably high, the rate of the diffusion process is also high. This simply because it gives chances to  try the product or a service. Evaluation is then done it on whether r to accept or reject the product. Trialability can be encouraged by providing free samples, or providing smaller packs and smaller-than-average sizes. e) Observability of a product This is the ease with which the a product commodity is observed. Observability aspect of the innovative product refers to the rate in which a product beneficial attributes can be imagined, seen as well as perceived by a willing consumer. A product that possess a high degree of observability has greater the chances of the innovativeness. There certain attributes that adversely affect diffusion rate of innovation and subsequently the adoption.