Technology Adoption Life Cycle | Stages and Why It Is Useful?

The corresponding sociological model of Technology Adoption Life Cycle helps you to describe the development of a new product as per demographics and psychological characteristics. Technology adoption of the product determines you to assess every stage of developing a high-tech product. The corresponding stages take care of the chasm and allow the other stages to take care of the void left by early adopters. The process is crucial to be understood by students who are pursuing related courses in Software technology. By opting the assistance of our Engineering assignment help experts, you can possibly witness the crucial elements considered in these stages. Let us take a look at why this life cycle is crucial.

Stages Considered in Technology Adoption Life Cycle

Technology Adoption Life Cycle considers the following five stages:

1. Innovators
2. Early Adopters
3. Early Majority
4. Late Majority
5. Laggards

Innovators

The innovative aspects require you to be in shape and adopt a product where people are willing to take risks so as to bring a product in front of the audience that holds its value. The sustainability factor works in the background to consider your product as an innovative and psychographic factor. Innovators are willing to take risk of processes that do not work perfectly but has great potential.

Early Adopters

Such people bring out the readiness factor and allow you to try out a particular product at the beginning stage. Early Adopters brings innovation is turned to fruition after carefully meeting all the requirements of the above process. They rigorously do their research and are quite passionate about making an informed buying decision. In this process of Technology Adoption Life Cycle, if the product only appeals to a small niche, it is processed and becomes ready.

Early Majority

The corresponding psychographic profile gets traction in developing a product that appeals to the early majority. However, the early majority is conscious of sufficient consumers who look for useful solutions even when there are possible bugs and fads involved.

Late Majority

The corresponding stage under Technology Adoption Life Cycle comes into play after a product is well established. If you consider a skeptical approach to take place under technological innovation, you will start taking down the impact of adoption when a product has gone mainstream.

Laggards

Laggards are considered to be the last process in technology adoption cycle. While the majority skill kicks in, the laggards feel averse to such technological advances and it feels quite skeptical about it. Laggards are often tied to economic as well as personal aspects and do not consider advantage in using technology.

Factors of “Chasm”

Bridging the chasm helps in finding out ways of minimising the risks when considering new technology.

• When a whole product is considered to be deliverable, the solution must be realised using anticipating benefits without reworking on any current systems while solutions do not face any kind of gaps in the overall application set.
• The chasm is considered to be dangerous as it takes a roll on the period of sales growth as well as rapid acceptance.
• The visionaries continue to adopt new technologies which present a sharp incline in revenues.
• At the time of enormous growth and revenue, these high expectations are often encountered as a stall in growth typically associated with chasm.

Let us consider the difference in buying habits of visionaries and pragmatists while drawing the Technology Adoption Life Cycle.

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