Innovation & Novelty Flashcards
(31 cards)
Innovation
Something new. Occurs in all industries
In fashion, isn’t limited to clothing. Emerged from the fashion runways, appear in a hit movie, TV show, or music video.
Relative Advantage
Perception that the innovation is more satisfactory than items that already exist in the same class of products
Compatibility
A harmony between the innovation and the values and norms of potential adopters
Complexity
A gauge of the difficulty faced by a customer in understanding and using Innovation
Trialability
The relative ease of testing out the Innovation before making a decision (“simple to try”)
Observability
The degree of visibility afforded the innovation (“conspicuous”)
Awareness
You realize or hear about innovations/some new products but don’t really have much information about it.
What are the 5 steps of the consumer adaption process?
Awareness, interest, evaluation, trial, adoption
Interest
You seek information to learn more about the innovation/new things.
Evaluation
You evaluate the information and think about whether it is really something you want or need.
Trial
You try/test the innovation before adoption.
Adoption
You start using it.
The diffusion curve (Rogers)
is a visualization of the spread of innovation through a social system (start – peak – decline); illustrates diffusion of innovation as a Bell shaped curve.
has a horizontal time axis and vertical axis for number of adopters.
Early adopters/opinion leaders
Early adopters or Opinion leaders make up 13.5 percent of the total adopters; They endorsed a style to those who seek guidance; are asked for advice about clothes;
Examples: Instagram influencers/bloggers, fashion editors
Fashion Change Agents
A very small group of innovators who begin the diffusion process + a larger group of early adopters/opinion leaders
Perform several important roles:
Fashion Mavens
people with a knowledge about some aspect of lifestyle, a passion for newness, and the desire to share their interest with others; produces the word-of-mouth to power the spread of an innovation
Majority/ Late adopters
After the peak, the number of new adopters decreases, and all people have had the opportunity to possess it or at least try it (e.g., smart phone).
1st Step in theatrical model
The first step involves the transmission of new ideas through the impersonal influence of mass media and marketer-based information to innovative consumers/opinion leaders.
Second step of theatrical model
The second step depends on the personal , face-to-face influence within social groups as new ideas move from fashion leaders to fashion followers.
Diffusion Bass Model
Shows that most consumers at the beginning of the diffusion process adopt the innovation based on impersonal influences such as the mass media. Most subsequent adopters make the decision based on interpersonal influence. But some adapters, even at the later stages rely mostly on external impersonal influence.
Diffusion S Curve
The bell curve of the Rogers diffusion process can be redrafted into a cumulative form- the S-curve (Brown, 1992).
Graph 2 S curve
Using this theoretical model, it is easy to see how an innovation could spread between social groups and market segments.
Fringe
A stage when an innovation arises and the trendiest consumers and entrepreneurial firms begin to participate.
Trendy
A stage when awareness of the trend grows because early adopters join the innovators to increase the visibility of the trend and the most fashion-forward brands and retailers test the concept.
