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Innovation EquityAssessing and Managing the Monetary Value of New Products and Services$
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Elie Ofek, Eitan Muller, and Barak Libai

Print publication date: 2016

Print ISBN-13: 9780226618296

Published to Chicago Scholarship Online: May 2017

DOI: 10.7208/chicago/9780226394145.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 23 July 2021

Jumpstarting Stalled Adoption

Jumpstarting Stalled Adoption

Getting the Mainstream to Take the Plunge

Chapter:
(p.125) Chapter Five Jumpstarting Stalled Adoption
Source:
Innovation Equity
Author(s):

Elie ofek

Eitan Muller

Barak Libai

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226394145.003.0006

This chapter extends the treatment of how multiple segments adopt innovations, and connects diffusion modeling and marketing strategy with the chasm phenomenon. A chasm forms when mainstream customers effectively have no individual force to drive adoption of the innovation in question and are not open to social influence from the early market. Consequently sales languish soon after the launch, and without intervention it is unlikely that the mainstream’s diffusion process will ever commence. The argument is that for the innovation to gain traction in the mainstream, or cross the chasm, it is necessary to supply a version that solves mainstream customers’ needs with minimal disruption to their existing behavior and minimal uncertain investment on their part; in effect increasing their individual adoption force. This augmented solution is called the whole product. To follow through with this strategy and engender adoption at this critical stage, it is recommended to initially have a narrow approach to target market selection, focusing on a select few customers or a small sub-segment of the mainstream population. Once these targeted customers adopt, they can serve as a credible reference for other mainstream customers. A comparison of Tesla to (now defunct) Better Place exemplifies the ideas presented.

Keywords:   chasm, early market, mainstream market, whole product, reference, crossing the chasm, niche marketing, Geoffrey Moore, electric vehicles, Tesla

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