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Diffusion (business)
Diffusion is the process by which a new idea or new product is accepted by the market. The rate of diffusion is the speed with which the new idea spreads from one consumer to the next. Adoption (the reciprocal process as viewed from a consumer perspective rather than distributor) is similar to diffusion except that it deals with the psychological processes an individual goes through, rather than an aggregate market process. Theories There are several theories that purport to explain the mechanics of diffusion: * The two-step hypothesis – information and acceptance flows, via the media, first to opinion leaders, then to the general population * The trickle-down effect – products tend to be expensive at first, and therefore only accessible to the wealthy social strata – in time they become less expensive and are diffused to lower and lower strata. *The Everett Rogers Diffusion of innovations theory – for any new idea, concept, product or method, there are five categories of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Idea
In common usage and in philosophy, ideas are the results of thought. Also in philosophy, ideas can also be mental representational images of some object. Many philosophers have considered ideas to be a fundamental ontological category of being. The capacity to create and understand the meaning of ideas is considered to be an essential and defining feature of human beings. In a popular sense, an idea arises in a reflexive, spontaneous manner, even without thinking or serious reflection, for example, when we talk about the ''idea'' of a person or a place. A new or an original idea can often lead to innovation. Etymology The word ''idea'' comes from Greek ἰδέα ''idea'' "form, pattern," from the root of ἰδεῖν ''idein'', "to see." History The argument over the underlying nature of ideas is opened by Plato, whose exposition of his theory of forms--which recurs and accumulates over the course of his many dialogs--appropriates and adds a new sense to the Greek word for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diffusion (anthropology)
In cultural anthropology and cultural geography, cultural diffusion, as conceptualized by Leo Frobenius in his 1897/98 publication ''Der westafrikanische Kulturkreis'', is the spread of cultural items—such as ideas, styles, religions, technologies, languages—between individuals, whether within a single culture or from one culture to another. It is distinct from the diffusion of innovations within a specific culture. Examples of diffusion include the spread of the war chariot and iron smelting in ancient times, and the use of automobiles and Western business suits in the 20th century. Types Five major types of cultural diffusion have been defined: * Expansion diffusion: an innovation or idea that develops in a source area and remains strong there, while also spreading outward to other areas. This can include hierarchical, stimulus, and contagious diffusion. * Relocation diffusion: an idea or innovation that migrates into new areas, leaving behind its origin or source of the c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Management
Product management is the business process of planning, developing, launching, and managing a product or service. It includes the entire lifecycle of a product, from ideation to development to go to market. Product managers are responsible for ensuring that a product meets the needs of its target market and contributes to the business strategy, while managing a product or products at all stages of the product lifecycle. Software product management adapts the fundamentals of product management for digital products. History The concept of product management originates from a 1931 memo by Procter & Gamble President Neil H. McElroy. McElroy, requesting additional employees focused on brand management, needed "Brand Men" who would take on the role of managing products, packaging, positioning, distribution, and sales performance. The memo defined a Brand Man's work as: * Study carefully shipments of his brands by units. * Where brand development is heavy ... examine carefully t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Development
In business and engineering, new product development (NPD) covers the complete process of bringing a new product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. The products developed by an organisation provide the means for it to generate income. For many technology-intensive firms their approach is based on exploiting technological innovation in a rapidly changing market. The product can be tangible (something physical which one can touch) or intangible (like a service or experience), though sometimes services and other processes are distinguished from "products". NPD requires an understanding of customer needs and wants, the competitive environment, and the nature of the market. Cost, time, and quality are the main variables that driv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Innovation
Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies. Innovation often takes place through the development of more-effective products, processes, services, technologies, art works or business models that innovators make available to markets, governments and society. Innovation is related to, but not the same as, invention: innovation is more apt to involve the practical implementation of an invention (i.e. new / improved ability) to make a meaningful impact in a market or society, and not all innovations require a new invention. Technical innovation often manifests itself via the engineering process when the prob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cultural Trends
The bandwagon effect is the tendency for people to adopt certain behaviors, styles, or attitudes simply because others are doing so. More specifically, it is a cognitive bias by which public opinion or behaviours can alter due to particular actions and beliefs rallying amongst the public. It is a psychological phenomenon whereby the rate of uptake of beliefs, ideas, fads and trends increases with respect to the proportion of others who have already done so. As more people come to believe in something, others also "hop on the bandwagon" regardless of the underlying evidence. Following others' actions or beliefs can occur because of conformism or deriving information from others. Much of the influence of the bandwagon effect comes from the desire to 'fit in' with peers; by making similar selections as other people, this is seen as a way to gain access to a particular social group. An example of this is fashion trends wherein the increasing popularity of a certain garment or style ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Technology Lifecycle
The technology life-cycle (TLC) describes the commercial gain of a product through the expense of research and development phase, and the financial return during its "vital life". Some technologies, such as steel, paper or cement manufacturing, have a long lifespan (with minor variations in technology incorporated with time) while in other cases, such as electronic or pharmaceutical products, the lifespan may be quite short. The TLC associated with a product or technological service is different from product life-cycle (PLC) dealt with in product life-cycle management. The latter is concerned with the life of a product in the marketplace with respect to timing of introduction, marketing measures, and business costs. The ''technology'' underlying the product (for example, that of a uniquely flavoured tea) may be quite marginal but the process of creating and managing its life as a branded product will be very different. The technology life cycle is concerned with the time and co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Technology Adoption LifeCycle
The technology adoption lifecycle is a sociological model that describes the adoption or acceptance of a new product or innovation, according to the demographic and psychological characteristics of defined adopter groups. The process of adoption over time is typically illustrated as a classical normal distribution or "bell curve". The model indicates that the first group of people to use a new product is called "innovators", followed by "early adopters". Next come the early majority and late majority, and the last group to eventually adopt a product are called "Laggards" or "phobics." For example, a phobic may only use a cloud service when it is the only remaining method of performing a required task, but the phobic may not have an in-depth technical knowledge of how to use the service. The demographic and psychological (or "psychographic") profiles of each adoption group were originally specified by the North Central Rural Sociology Committee (Subcommittee for the Study of the Dif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Product Life-cycle Management (marketing)
Product life-cycle management (PLM) is the succession of strategies by business management as a product goes through its life-cycle. The conditions in which a product is sold (advertising, saturation) changes over time and must be managed as it moves through its succession of stages. Goals The goals of product life cycle management (PLM) are to reduce time to market, improve product quality, reduce prototyping costs, identify potential sales opportunities and revenue contributions, maintain and sustain operational serviceability, and reduce environmental impacts at end-of-life. To create successful new products the company must understand its customers, markets and competitors. Product Lifecycle Management (PLM) integrates people, data, processes and business systems. It provides product information for companies and their extended supply chain enterprise. PLM solutions help organizations overcome the increased complexity and engineering challenges of developing new products for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Percolation
Percolation (from Latin ''percolare'', "to filter" or "trickle through"), in physics, chemistry and materials science, refers to the movement and filtering of fluids through porous materials. It is described by Darcy's law. Broader applications have since been developed that cover connectivity of many systems modeled as lattices or graphs, analogous to connectivity of lattice components in the filtration problem that modulates capacity for percolation. Background During the last decades, percolation theory, the mathematical study of percolation, has brought new understanding and techniques to a broad range of topics in physics, materials science, complex networks, epidemiology, and other fields. For example, in geology, percolation refers to filtration of water through soil and permeable rocks. The water flows to recharge the groundwater in the water table and aquifers. In places where infiltration basins or septic drain fields are planned to dispose of substantial amounts of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Product Development
In business and engineering, new product development (NPD) covers the complete process of bringing a new product (business), product to market, renewing an existing product or introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. The products developed by an organisation provide the means for it to generate income. For many technology-intensive firms their approach is based on exploiting technological innovation in a rapidly changing market. The product can be tangible (something physical which one can touch) or intangible (like a service or user experience, experience), though sometimes services and other processes are distinguished from "products". NPD requires an understanding of customer needs and wants, the competitive environment, and the nature of the market. Cost, time, and qua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Plan
A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan so that goals may be achieved. While a marketing plan contains a list of actions, without a sound strategic foundation, it is of little use to a business. Summary A marketing plan is a comprehensive document or blueprint that outlines the advertising and marketing efforts for the coming year. It describes business activities involved in accomplishing specific marketing objectives within a set time frame. A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals. A marketing plan has a formal structure, but can be used as a formal or informal document which makes it very flexible. It contains some historical data, future predictions, and methods or strategies to achieve the marketing ob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
