Marketing: Complexity Modeling, Theory and Applications in
Definition of the Subject
Adoption of innovation is one of the most interesting fields in marketing, with high monetary importance as more than 50 % of firms profits are influenced from new products performances. Innovations are also an important factor for society as it influences many aspects in life.
Because adoption of an innovation involves risks, learning periods, and sometimes adaptations, individuals tend to consult with their friends and peers before making an adoption decision. The interaction between large numbers of consumers is one of the trademarks of complex system. Innovation markets are complex systems, and the complexity approach can become an important tool, both scientifically and practically.
Having been established as a scientific field only as recently as the late 1960s, marketing can be considered a young discipline in the social sciences. Nevertheless in a relatively short time, this field had rapidly matured into a fascinating, highly...
KeywordsCellular Automaton Early Adopter Innovative Product Adoption Rate Entire History
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