Take a product that is 1-2 years old, suggest a strategy for the product to be successful. In this case, we would like to evaluate Clubhouse. Clubhouse is a new type of social network based on voice—where people around the world come together to talk, listen and learn from each other in real-time.
Diffusion of Innovation – theory that try to explain the phenomena of why product defuse or never make it. The innovation itself of communication over a social period. 4 steps
Please cover 4 things
- Innovation
- Continuous (simply change or slight improvement on existing product,
- Dynamically Continuous (new product itself or pretty big change to another one enough to alter consumer usage),
- Discontinuous Innovation (product we have not seen before),
- Compatibility (How does it fit into society),
- Complexity (how difficult is it to understand),
- Trial Ability (ability of consumer to give it a test run),
- Fulfillment of a need (if a product benefit doesn’t directly or quickly solve a problem of a consumer)
- Communication – Individual passing on communication to one another
- Social System – group of consumers engaged into a joint problem-solving mission. Reference group. Consumption Subcultures – Identify with a group based on specific product or brand (shared belief or jargon)
- Time – natural progression of time in the length of adoption
- Awareness (innovation introduced but not a lot of knowledge),
- Interest (consumer decides to invest time and energy into the product researching it and how it could benefit them)
- Evaluation (how do i use, need it, advantage of having it,
- Trial (give it a chance)
- Adoption (embrace it for the future)+
