Do Marketers Expect to Face More Competition in 2024?
Do marketers think their companies will face more competition in 2024 compared with 2023? To find out, researchers conducted a survey of 507 marketing professionals in the United States.
Sometimes a company comes up with a product so innovative, it defines a new category. Late-night informercials can be used to get the new product adopted more quickly. They typically use a formula which includes demonstrating the relative advantage, observability, trialability, compatibility and simplicity of the product.
Research by Everett Rogers in his book Diffusion of Innovations (1962) showed that very few new business ideas survive without these elements. Marketers should ensure their product or service is consistent with these elements if they want it to be successful.
Further resources such as articles and charts can provide more insight into new product adoption.
Why Some New Products Get Adopted Quickly: A Lesson From Infomercials
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Do marketers think their companies will face more competition in 2024 compared with 2023? To find out, researchers conducted a survey of 507 marketing professionals in the United States.
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