New products and services will be accepted much faster in countries with open-minded and entrepreneurial culture than those with conservative and developing countries. Diffusion Of Innovations Diffusion of innovations is a highly theoretical issue suggested by Everett M. Rogers. It may be too theoretical for modern business of disparity, but it still has high value of reference for entrepreneurs, marketers and internet companies. Its merit is mainly in the classification of people based on their personality and their innovation adoption tendency in the innovation diffusion process so that marketers can develop their marketing strategy based on these factors. Innovation adopters may be classified as Innovators are usually highly educated, financially strong and willing to take risk.
Majority follow the early adopters and sometimes are influenced by group pressure.
Laggards are those who always fall behind with others. They are conservative and may be financially weak. Such classification may be too general, but this may still be a good guideline for market development and evaluation. Based on such theory, we may easily concluded that mass advertising during the early stage of marketing of innovative products or services is usually not justifiable if our target audience is small. Then, segmented media may be more suitable.