The Law Of Innovation Of Diffusion Curve10th September 2021by Akarshit MahajanTable of ContentsInnovators, Adopters, Majority and LagardsLaw Of Diffusion Of Innovation Curve In BusinessThe Law of Diffusion Of Innovation Curve is a amazing wonder that explains how things get distributed in our lives. The Law of Diffusion Of Innovation Curve explains why only a small percentage of the world achieves extreme success, a majority of the percentage just has an average success, and then a very small percentage is really Unsuccessful The Law of Diffusion of Innovation is a great curve. It by observation has concluded as follows: For Any Change In our world, the adoption of the change happens beginning with the Innovators (2.5%), followed by Early Adopters (13.5%), Early Majority (34%), Late Majority (34%) and Laggards (16%). hhaInnovators, Adopters, Majority and LagardsImagine a person who loves music, he decided to become a street singer to kickstart his career. When he starts he is the innovator, as he starts singing, some people passing by the street casually hear him. Over the period of few days, he gains some people who loves his singing, these people are the early adopters, these people record his videos and post it on social media. As time goes by, his shared songs start to float on social media, and then one day he sees a random person, listening to his song. At this point his music has start to spread and has gained momentum among the Tom, Dick and Harry. From here on, he has got the influence in the majority community, and therefore he gains success. Diffusion of Innovation (DOI) Theory, developed by E.M. Rogers in 1962, it shows a great curve showing how different people involve in a activity over the period of time. The 5 parts in which The Law Of Diffusion Of Innovation distributes the population are->Innovators – These are people who want to be the first to try the innovation. They are venturesome and interested in new ideas. These people are very willing to take risks, and are often the first to develop new ideas. Very little, if anything, needs to be done to appeal to this population.Early Adopters – These are people who represent opinion leaders. They enjoy leadership roles, and embrace change opportunities. They are already aware of the need to change and so are very comfortable adopting new ideas. Strategies to appeal to this population include how-to manuals and information sheets on implementation. They do not need information to convince them to change.Early Majority – These people are rarely leaders, but they do adopt new ideas before the average person. That said, they typically need to see evidence that the innovation works before they are willing to adopt it. Strategies to appeal to this population include success stories and evidence of the innovation’s effectiveness.Late Majority – These people are skeptical of change, and will only adopt an innovation after it has been tried by the majority. Strategies to appeal to this population include information on how many other people have tried the innovation and have adopted it successfully.Laggards – These people are bound by tradition and very conservative. They are very skeptical of change and are the hardest group to bring on board. Strategies to appeal to this population include statistics, fear appeals, and pressure from people in the other adopter groups.This basically shows us that about 2.5% of the population are the leaders, these are the people who initiate any change in our society. The Innovators, face the heat. Once they do it, and take a stand for a vision or a change in society, soon some people turn there heads towards these Innovators. The people who turn there heads towards the Innovators and like what they did, start to join the movement. These people are the early adopters. For example, in case of computers, back in the day when computers were in there innitial stages, the first computers were made by some Innovators, Some industrialists realised it was good, and as a result turned there heads in the direction of computers. So, these people became the early adopters. Then, the technology improved and as a result general public which is the majority community started to take interest and get engaged in computers and at the end the old age people, also started to take interest in technology.Law Of Diffusion Of Innovation Curve In BusinessThe Law Of Diffusion Of Innovation Curve teaches us how to become a leader. Every over night success had a lot of time working at the bare minimum. The One Night Success can be understood from Law of Diffusion Curve. These successes stay on the early adopters stage for a lot of time. They built such a strong base at the early adopter level, that as soon as they break past the Early adopter stage, they in a matter of few days, cover a big chunk of the Early and Late Majority portion. We all have got that friend or a relative that once started a business and had to quit within and year or 2. The reason was simple, The reason was that they did not got much success.1 Ml Yqybkipht512g Qtzyg Well if we see the Law Of #Diffusion Of #Innovation curve, then we observe that if we see the curve with respect to time. Then the first half of the time has just the innovators and early adopters. Which means that only 2.5 + 13.5= 16% of the total success comes in the early half of the time. When a person quits due to lack of success he is either still in the Early Adopter Stage of his business, or he is just about to enter the Majority stage of the business. In both the cases, he has covered a large part of the early half of Innovation of diffusion curve. By viewing the curve we know that it’s a wiser decision at that stage to continue than to quit. A major portion of our success is yet to be uncovered, and as a start up, we have covered a major portion of hard time of #EarlyAdopters. Keep hope because as soon as we enter Early Majority, our #growth would prosper in never imagined way.This also shows us why the greatest of the greatest companies reach there level. One thing I observed by going to movies theatres was that there existed a population who would watch a movie in theater on every weekend, regardless of how good or bad it can be.They would never read reviews they would #watch it in any case. They took the risk of wasting money on a bad movie or having the feeling of fulfillment of watching great movie. Then there would be people who would watch movie only if it actually good.They would read the reviews, and hear about it from trusted sources. If there friend who liked it then only they will book there own tickets. And then came a group of people who never watched movie or rarely watched it. The person who watched each and every movie was the Early Adopter in business terms, he takes the risk and sets the tone for the market, and then came the person of majority, he would wait till he is convinced if the movie is good or not and then ride the wave.At the end come the laggards, who rarely watch movie. The greatest #movie becomes great because it gets the people from the Laggard side of the Law Of Diffusion Of Innovation Curve to also come up and take part in it.A Successful Business makes things that has a target audience very big, and makes a product so good, that it surely enters the Laggard side of the Law Of Diffusion Of Innovation Curve also Last Seen: Oct 19, 2022 @ 2:01pm 14OctUTC Akarshit Mahajan AkarshitMahajan6300 followers0 following9 Follow Report Content Published: 10th September 2021 Last Updated: 9th November 2019 Views: 293Tags:#Diffusion#EarlyAdopters#growth#Innovation#movie#watchpreviousSupreme Court’s Ayodhya Verdict of Ram Mandir CasenextLEARN TO LOVE WHAT YOU DO FOR A LIVING! Leave a Reply Cancel replyYou must Register or Login to comment on this Creation.