Technology Adoption Life Cycle : The Chasm

The short product life cycle in this industry requires competitors to continuously evolve. This continual innovation is difficult for new entrants to achieve. Also, existing products, such as Apple’s iPhone, have built brand loyalty and associated switching costs for consumers, which pose as barriers to entry for new competitors.

Innovation is a cornerstone for any organization aspiring to set their visions high. The accentuation of an enterprise that needs to develop technology expeditiously would be: advertisement insights, analysing major trends and the need of a flair for professionalism which often brings us to crowdsourcing alternatives. "Innovation is: production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets; development of new methods of production; and establishment of new management systems. It is both a process and an outcome." (Edison & Torkar, 2013)

Most markets are highly competitive, even if there are only a few organizations offering the product – the competition is for both initial and repeat sales. And of course, all organizations want their “slice of the pie”. With new adventures, however, come large risks. A successful company knows beforehand any issues that might arise so as to best plan how to deal with

For any innovation, a company needs to ensure it has developed good network relationships in order to obtain support for its innovation. This is because of the generic market acceptance process. The market acceptance process starts with building relationships with the adoption networks, which should start before the innovation is launched and continue after the innovation has been commercialized. Once the product has received backing from the adoption network, early adopters will be willing to purchase the product because of the technological innovation which they would be willing to access for themselves. Once a product has been accepted by the early adopters, and they give it

This approach as proposed by Benbasat and Barki [28] for the technology acceptance model is believed to be able to help generate actionable information on how to “create” the antecedents to the desired success of information technology artifacts. Some applicable theories that can be reverse-engineered are:

What are your recommendations for executives and innovators to align emerging technologies with consumer demand?

the results of the analysis. Section VI discusses the findings and the limitations of the study. Future research directions are also outlined. Section VII concludes the paper. II. INNOVATION DIFFUSION AND THE S-CURVE GROWTH MODEL Over the last three decades, a considerable body of literature has accumulated on the characterization of the life cycle of innovations. Interest in understanding the factors and the environment conducive to the adoption of new innovations spans across different disciplines, most notably marketing, economics, and social science. One line of research involves empirical studies using cross-sectional data with a focus on the relationship between the adoption decision, the innovation, and the organizational characteristics. The majority of IS innovation studies fall into this category [2], [6], [17], [23], [35], [55], [56]. Another line of research, popularized in the marketing literature, focuses on the diffusion pattern of innovations over time. Aggregate diffusion models have been proposed to study the rate and pattern of the diffusion process. While originally developed to capture the essential features of

However, unlike other research that attempt to predict the adoption or success of technologies based on predefined constructs (antecedents), we argue that the most useful studies on USHI will be those that attempt to “reverse-engineer” its success, going even beyond standard antecedents with a view to identifying key components that inform those antecedents which in turn result in the success of the technology. This approach as proposed by Benbasat and Barki [26] for the technology acceptance model is believed to be able to help generate actionable information on how to “create” the antecedents to the desired success of information technology artifacts. Some applicable theories that can be reverse-engineered

During the next stage, maturity, there is intense rivalry for a mature market. Efforts may be limited to attracting a new population, leading to a proliferation of sizes, colors, attachments, and other product variants. Battling to retain the company’s share, each marketer steps up persuasive advertising, opens new channels of distribution, and grants price concessions. Unless new competitors are obstructed by patents or other barriers, entry is easy. Thus, maturity is a period when sales growth slows down and profits peak and then start to decline. Strategy in the maturity stage comprises the following steps: (a) search for new markets and new and varied uses for the product, (b) improvement of product quality through changes in features and style, and (c) new marketing mix perspectives. For the leader firm, Step c may mean introducing an innovative product, fortifying the market through multibrand strategy, or engaging in a price-promotion war against the weaker members of the industry; the nonleader may seek a differential advantage, finding a niche in the market through either product or promotional variables.

However, unlike other research that attempt to predict the adoption or success of technologies based on predefined constructs (antecedents), we argue that the most useful studies on USHI will be those that attempt to “reverse-engineer” its success, going even beyond standard antecedents with a view to identifying key components that inform those antecedents which in turn result in the success of the technology. This approach as proposed by Benbasat and Barki [26] for the technology acceptance model is believed to be able to help generate actionable information on how to “create” the antecedents to the desired success of information technology artifacts. Some applicable theories that can be reverse-engineered

Everett M. Rogers: (1997). Diffusion of Innovations Theory. HYPERLINK "http://www.tcw.utwente.nl/theorieenoverzicht/Theory clusters/Communication and Information" http://www.tcw.utwente.nl/theorieenoverzicht/Theory clusters/Communication and Information Technology

Innovative technology is largely taken for granted in our society today. Computers, tablets, cell phones, and the internet are just some examples that continue to evolve and move our society into the future. Let’s rewind 15 years ago; there were no smart phones or tablets, the internet was at its beginning stages using phone lines to connect your modem to the World Wide Web. Companies saw how important this type of technology could be to the world and began working on advanced solutions for the needs of society. Now, technology is something everybody uses on a daily basis and many of us don’t realize how far we have come. Smart phones are used as computers which many companies use for business on the go. There are credit card readers

“The Innovator’s Dilemma” describes Christensen’s theory of disruptive innovation. But, his theory isn’t essentially briefed as one would assume. Her opinion is that case studies (like disk-drive industry) were chosen by the author to demonstrate his perception, as well as subjectively distinct success metrics.

Using existing organizational systems often means completely missing the boat on the real customer and his real needs. This is the customer who values the products as a breakthrough. Products are frequently under-appreciated by firms when the new product is based on an existing platform. This leads to a wait and see attitude and the product is not given adequate support and often under-priced.

Next disadvantage is that market pioneers will face market and technology uncertainties, which is a primary reason of failure for startups. Lastly, a shift in customer’s needs is required in order to create demand for the market pioneer’s new product or