Described as a
communications theory, the diffusion of innovations theory describes the
pattern and speed at which innovative ideas, practices, or products spread through
a population. The functions and processes of the diffusion model, however,
appear to fit better as a business model; more specifically, a marketing model.
The main players in the theory are innovators, early adopters, early majority,
late majority, and laggards. The model helps a business to understand how a
buyer adopts and engages with new products or technologies over time. Companies
will use it when launching a new product or service, adapting one, or
introducing an existing product into a new market. To that end, this paper
explores how diffusion and adoption might better apply as a marketing theory.
