Launching a new product on the market, between Rogers Curve and Standing Ovation Model

Indonesia Data Forum Pioneering and Big Data Growth
Post Reply
mdsakilmdsak0987
Posts: 9
Joined: Tue Dec 03, 2024 5:56 am

Launching a new product on the market, between Rogers Curve and Standing Ovation Model

Post by mdsakilmdsak0987 »

When an entrepreneur embarks on the launch of a new product , a new line or a new australia phone number list company, he or she is faced with a long series of unknowns.

Fortunately, there are a number of model thinking tools that help you orient yourself and understand in advance how to move on the market, how the different penetration phases work, what to expect in each of them and, in general, how to move at the level of actions and investments.

Today, in particular, we will focus on two of these models: the Rogers Curve and the Standing Ovation Model.

The first one was born in the 60s and tells the way in which an idea, a novelty, or even a market innovation spreads. It is a general model that, despite some limitations, still represents very well the different phases that a product must go through when it arrives on the market.

The second, decidedly more recent, sheds a different perspective on that same cycle, stimulating new, interesting reflections that can find practical application when establishing one's strategic plans.

Image




Innovators according to Rogers and according to Miller and Page
To best present these tools, we will hypothesize the introduction of an innovative consumer product, by a financially solid company with good commercial contacts, with a medium-sized brand (i.e. a solid company but one that is not able to launch a new product by relying solely on the strength of its own brand, as certain market giants could do).

Let's leave aside, as already said, the presence of a good marketing plan, a structured funnel and so on. In fact: let's take it for granted. Once the company has started advertising its innovative product, what will happen?

ARE YOU THINKING ABOUT LAUNCHING A NEW PRODUCT ON THE MARKET? FIND OUT HOW WE CAN HELP YOU
Innovators in the Rogers Curve
In the 1960s, sociologist Everett Mitchell Rogers formulated the famous model of diffusion of innovation known as the Rogers curve.

According to Rogers' curve, within each group there is only 2.5% of individuals who will be inclined to embrace the new product. Only these individuals in fact possess a series of specific characteristics: propensity for risk (the new product could turn out to be ineffective or disappointing!), curiosity and attraction for the new, independence with respect to social judgment (they are not afraid of being considered strange, eccentric, or of suffering other negative judgments for their propensity towards novelties).

These are the innovators.

Innovators pave the way for a second, larger group, which we call early adopters.

The Rogers curve tells us, therefore, that the first necessary step is to intercept innovators through appropriate market strategies.

The Standing Ovation Model
The model proposed by EM Rogers has undergone various criticisms, validations and integrations over time.

What we present here could be seen, in fact, as an integration or if we want an additional point of view; another model of interpretation of social behavior in front of a new product.

Imagine a theater: at the end of the concert, or the play, the audience expresses its appreciation with more or less intense or prolonged applause; or, even, with a standing ovation that decrees the maximum success.

Standing up and applauding is not a behavior that comes naturally and spontaneously to the audience. On the contrary: even if the show was greatly enjoyed, there are very few people who are willing to stand up first. It is not just a question of liking, in short, but also of character.

But as spectators become aware that those around them are starting to stand up, they begin to stand up too (usually if someone close enough does so – say within a radius of two or more seats or so).

In fact, looking at the scene in slow motion, you can notice a sort of wave.

Be careful, though: if a spectator tends to get up only after seeing others do so, this also means that he will not get up if he is unable to see others.

In practice, if the first enthusiastic spectators to stand up are those at the back of the room, no one will see them and the standing ovation will not be able to start. On the contrary, those who are sitting in the front rows will probably be followed by all the others, decreeing the success of the show.

It is therefore not difficult to understand the parallel with the world of marketing.

The Standing Ovation Model tells us that we must direct our marketing efforts to rea
Post Reply