1. Diffusion of Innovation

5. The value chain Contemporary firms are being attacked by competitively on every dimension and from every direction. The only way to survive this onslaught is to create a ‘value chain’ to serve the customer, which will serve to differentiate the successful firm from its competitors and will provide competitive superiority on the critical attributes of importance to the consumer

6. What is an innovation? It is any idea or product perceived by the potential adopter to be new. New products are ideas, behaviour or things that are qualitatively different from existing forms

10. Innovations include both a hardware and a software component The hardware are the physical and tangible aspects of a product. The software is the understanding consumers’ values and lifestyles

13. New products in the market Every year around 5000 new products appear in the market. However, most fail and only a few remain ( around 20%). Products which are innovative.

17. The Adoption – Decision Process Everett Rogers Confirmation Knowledge Persuasion Decision Implementation

30. Polymorphism The degree to which innovators and early adopters for one product are likely to be innovators for other products. Consumers who are innovators for one product are monomorphic . Consumers who are innovators for more than one product are polymorphic .