Product Success & Growth: "The Diffusion of Innovation"

I found our class discussion on “Diffusion of Innovation” very interesting. One of the main takeaways I had from this lecture was the need to create a mutant in order to find new ideas and develop new products. Professor Talbott commented that evolution does not happen without mutation. I found the truth behind this statement very intriguing. Mutations are normally perceived to be negative, altering a product away from what it was supposed to be. However, in reality, these “mistakes” are necessary for growth.  Changes in products enable society to learn about consumer responses and the best methods to market, distribute, and satisfy the customer demands. In order for growth to occur, change needs to be made.

Furthermore, understanding the product lifecycle really demonstrates the need for various types of consumers. I liked the article’s point that one should not try to change the adoption spread. Each user segment is necessary for the most efficient adoption outcomes. On behalf of everyone’s different personalities, their demands are satisfied at different times in the product lifecycle. For instance, it is just as important to allow innovators to talk about brand new items which few have discovered as it is for the late majority to take their time and observe the product becoming integrated in society before becoming a user. 

I am interested to learn about differences between product adoption rates prior to our current technology and social media phase. Technology permits the transfer of information through an easy-to-use and efficient medium. It allows strangers to share opinions and comments on just about any product/service. While the credibility behind some information available through internet sites may be uncertain, websites that have built strong reputations offer accurate and helpful information.