Modeling adoption process based on awareness and motivation of consumers

Understanding multi-stage diffusion process in presence of attrition of potential market and related pricing policy

“…Later, Jain et al [20] and Ho et al [17] have assumed that the buyers go through three stages of adoption; from being the potential market to waiting adopters and waiting applicants, they are either lost-customer or eventual adopters. Furthermore, Anand et al [2] have also proposed the innovation diffusion model with the stage structure using 3stage Erlang distribution. Afterward, Chanda and Das [10] and Anand et al [3] have formulated the multi-stage diffusion model in a dynamic environment.…”

“…Evaluation of the proposed methodology was performed on the actual sales and price data set of high-technology products to understand the estimation and forecasting capability of the proposed model. This paper also presents the numerical analysis to illustrate the practical application of the current research, which was missing in the extant literature [2,10,25].…”

“…The proposed model exhibits the diffusion process of a newly launched product with a fixed potential market of size Here denotes the number of the target populace who are unaware of the innovations existence and they go through various stages before actually purchasing the product. In the current modeling framework, adoption of an innovation has been reflected through three stages as categorized in [2,3].…”

“…Therefore, to model a more plausible diffusion process, the new product adoption modeling should be based on the stage structure. Recently, authors [2,3,10] have studied the adoption behavior using the three-stage process: awareness, motivation, and eventual adoption. The first stage encompasses cognizance of the products information among the potential market.…”

Queuing theory-based innovation diffusion modelling incorporating change in adoption rate

“…Abundance of work exists in the literature of innovation diffusion modelling from which two important concepts are utilised that led to the formulation of the present study. The first being the adoption process, which has been classified as a multi-stage process in the literature (Rogers, 2003) is considered as two-stage process in line with framework of Anand et al (2014aAnand et al ( , 2014b. Other, being the consideration of the rate of diffusion per remaining potential adopter, which is constant, may be altered at some time point termed as change point in the adoption process.…”