How new technologies are being adopted in the market? What is the Chasm?

Every new technology and product experience an adoption life cycle by the market. In an attempt to understand this process better in particular for high tech products and technologies, Geoffrey A. Moore had studied this thoroughly. the outcome of his research is a term that is well known today among every professional who works in the technology field and it is the chasm.

So what is this Chasm and what is its meaning for the business world? How should we as innovation practitioners should address it? For all of these and more I will try to answer in this post.

diffusion

According to Joe M. Bohlen, George M. Beal and Everret M. Rogers, every new technology is being adopted by the environment in accordance to the innovation adoption life cycle.

Continue reading

The Diffusion of Innovations – The Bass Model

How new organization determine what products they should pursue? How can you tell if a product will become successful or not? How markets react to new products?

For all of these questions, innovators have the Bass model.

The goal of the Bass Model invented by Frank M. Bass is to predict how new products and technologies are diffused among the market. As a result, the Bass Model (or curve as it is called often) assists greatly in describing and predicting the possible markets of new consumer durable products.

Usually, the adoption of these new products and technologies look like this:

Continue reading