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INNOVATOR INDEX FOR DURABLE GOODS IN TIRUVARUR DISTRICT

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Article
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Innovations are continuously launched over markets, such as new products over the retail market or new artists over the music scene. Some innovations become a success; others don’t. Forecasting which innovations will succeed at the beginning of their lifecycle is hard. In this paper, we provide a data-driven, large-scale account of the existence of a special niche among early adopters, individuals that consistently tend to adopt successful innovations before they reach success: we will call them Hit-Savvy. Hit-Savvy can be discovered in very different markets and retain over time their ability to anticipate the success of innovations. As our second contribution, we devise a predictive analytical process, exploiting Hit-Savvy as signals, which achieves high accuracy in the early-stage prediction of successful innovations, far beyond the reach of state-of-the-art time series forecasting models. Indeed, our findings and predictive model can be fruitfully used to support marketing strategies and product placement.
Thesis
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The goal of this thesis is to explore a relationship of personality traits and basic values on intentions of early adoption behavior related to innovations offered by Start-Up. The literature defines Early Adopters [EA] regarding timing related to adoption, this thesis recognizes early adopter through their consumer behavior and uses psychological traits to frame those behaviors. This approach assesses personality traits and basic values as a predictor of early adoption behavior through a Mixed-method that includes a semi-structure interview and a self-report instrument. The main objective is to identify early adopter of one Chilean Start-ups innovation project and to characterize them regarding personality traits and basic values for the purpose of exploring a relationship of these variables with intentions of early adoption behavior of innovations. Data collected shows certain patterns arising from the perspective of personality traits, Openness and Conscientiousness are shown in both early adopter prospect. Neuroticism is not presented in early adoption subjects studied. Basic values show a propensity for Self-direction and Hedonism, along with Conservation values such as Security and Conformity in the same subjects. Assessment of the intentions of early adoption behavior affects the selection of reliable sources of data (Actual early adopters) related to the project MEIK since this start-up has no customer yet. This thesis suggests a new approach to identify early adopter for the purpose of diffusion of innovations, mainly offered by start-ups dealing in early stages of customer acquisition. Through personality and basic values, start-up founders can add a new approach to customer development interviews and market segmentation. The discussion about the diffusion of innovation has been treated mainly from a sociologic and economic standpoint, this thesis adds a more individual psychological approach to the process of diffusion of innovation in contrast to the time of adoption.