Modelling Technology Diffusion Process Under Dynamic Market Scenario
摘要
Adoption process plays an important role in defining the success of any product. But usually, it is preceded by many other processes, like awareness and motivation. Therefore, in order to talk about adoption, one should inculcate the role of awareness and motivation as separate processes. Because awareness and motivation attributes are continuously changing, one has to think about the impact they have in creating a dynamic market size. In this work, authors have studied the role of awareness and motivation in the adoption of a product simultaneously. The numerical method technique has been used meticulously, in the absence of a closed-form solution. Model validation done on different data sets shows the acceptability of the models in terms of accuracy obtained.