| Abstract: | A model of innovation diffusion which gives unequal weightage to the adopters of different temporal stages and captures commonly observed ups and downs in new product diffusion is proposed. It is shown that our model possesses features of the existing flexible diffusion models and shows better fit which is indicated by the values of R2adj, mean absolute deviation, and mean percentage error and estimates a larger market potential, M. It has an interesting feature of conversion factors, first increasing then vanishing, much before we approach market saturation, implying that there is a scope of new thrust in converting remaining potential adopters. |
