Innovation? In-class Group Assignment (Innovations): Your task Consider a produc
ID: 333685 • Letter: I
Question
Innovation?
In-class Group Assignment (Innovations): Your task Consider a product that you think represents an innovtion but that you have not yet It's OK if one or two people in the group have purchased it, but try to find something that the majority of you have not yet adopted. 1) What product did you identify as an innovation? 2) Why do you think this product is an innovation? 3) Classify the innovation by consumer learning required, type of benefit offered and breadth of uses a. b. c. Consumer learning: Benefit(s) offered Breadth of uses: 4) Use Roger's five factors from the notes to discuss how quickly or slowly this innovation is likely to diffuse through the marketplace. Discuss the innovation you chose in terms of all five factors; be sure to indicate for each factor whether this is something that will likely speed up or slow down diffusion. a. Perceived relative advantage b. Compatibility: c. Complexity: d Ease of Trialability: c. Observability 5) What can the marketers of this product do to encourage adoption? Use Roger's five factors here too. If one (or more of these factors is slowing down diffusion, what can marketers do to combat this? Your write up is due blackboardExplanation / Answer
b) Benefits offered: 360 degree sound perception, high quality sound specs
c) Breadth of uses: The usage scope of HomePod is limited to music and news telecast
4. Roger’s 5 factors on HomePod:
5. Apple needs to make its trialability more feasible for the consumers. They need to cut down the price by at least 20% to make its market penetration and user acceptance more feasible.