Technology Adoption Lifecycle: Cross the Chasm | Strategic Management | From A Business Professor

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Do you notice that whenever a new technological product or innovation comes out, there are always a group of consumers who would like to order it immediately to experience that new technology, no matter how expensive it is? In contrast, there is another group of consumers who would like to wait for months or even years because they either are not interested in or feel suspicious about any technological changes. So how to understand this difference among consumers. In 1962, the American Sociologist, Dr. Everett Rogers published the book Diffusion of Innovations. In this book, he classified consumers into distinguished groups based on their purchasing behavior. Today, the model is well known as the Technology Adoption Life Cycle. This model comprehensively describes the adoption or acceptance of a new technological product or innovation. In the book Crossing the Chasm, Geoffrey Moore, an American organizational theorist, elaborates the marketing techniques to successfully target mainstream consumers based on customer groups in the diffusion lifecycle. So what is the Technology adoption lifecycle? where is the chasm and how to cross it? In this video, I will discuss these questions with you.