Asked by Jaime Andres on May 23, 2024

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How can a marketing strategist influence the rate of diffusion through the attributes of an innovation?

Rate of Diffusion

The speed at which a new product, service, or idea spreads throughout a population or market.

Marketing Strategist

A professional responsible for designing and implementing strategies to promote products or services, aiming to increase market share and customer engagement.

Attributes of Innovation

Characteristics or features that define new and creative ideas, products, or methods which provide value and competitive advantage.

  • Formulate strategies to enhance the rate of diffusion for new innovations.
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Kanika PareekMay 26, 2024
Final Answer :
Various characteristics of the product or the innovation influence the rate at which that innovation diffuses through the market.Some of these attributes can be addressed or changed by the marketing strategist to increase the rate at which consumers adopt the new product.For example,if consumers can try a product without committing to adopting it or committing to a large purchase or effort to try it,they will be more willing to "sample" and evaluate the product.Secondly,the easier technology is to use,the more readily customers will try it.In addition,there are many forms of risk perceived by customers-financial risk,physical (health and welfare)risk,social risk,etc.-and the greater the risk of any sort the less likely customers are to try the innovation.