Diffusion of Innovations and Adoption

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The book uses Everett Rogers's Diffusion of Innovation theory that seeks to explain how new ideas, new products or innovations are adopted over time. Diffusion means communication and adoption has two sides, is to accept or not to accept. In this book, the idea or innovation being communicated for an adoption is a green energy technology called RMV Microturbine and an empirical research was used to determine the type of adopter for the innovation. There are five types of innovation adopters as suggested by Rogers: (1) Innovators, (2) early adopters (3) early majority (4) late majority and (5) laggards. When a new product is released on the market, the first category of people who adopt it are innovators, followed by early adopters and the last category of people who adopt it are laggards. Rogers theory proposes that, there are five attributes of an innovation that effect adoption: (1) relative advantage, (2) compatibility, (3) complexity, (4) trialability, and (5), observability. This book is essentially useful for students, business managers, economists, marketers, green energy technology investors and professionals in every field.