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Chapter 5. Understanding Customer Adoption

Chapter 5. Understanding Customer Adoption

To create a successful new high-technology company, you need to understand the dynamics of markets for new technology products and services. These dynamics operate according to specific patterns, which influence the ability of entrepreneurs to get customers to adopt their new products and services.

This chapter focuses on some requirements that you need to meet if you are interested in securing customer adoption of your new products and services. You need to understand the likely distribution of adopters of their products and services to target their customer base effectively. You need to follow particular strategies to transition from innovators to the majority of the market. You need to select the right segment of the market on which to focus to transition to the majority of the market. You need to assess the size and growth rate of the markets that you are entering. You need to pay attention to the factors that affect the rate of influence diffusion and substitution of new technology products and services.


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