Diffusion of innovation explains the rate at which new ideas and technology spread. The diffusion of innovation theory is used extensively by marketers to understand the rate at which consumers are likely to adopt a new product or service.
What is Diffusion of Innovation? The below diagram explains Diffusion of Innovation. This chart shows an important concept or a framework to help one run their business, improve company's strategy, internal processs, enhance project management, technology, and client experience.
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