Diffusion of Innovations

Diffusion Of Innovations:

Diffusion of innovations is a theory which explains how,why,what, and at what speed the new technology spreads between the social system. Everette Rogers a professor of communication studies popularized this theory in his book of diffusion of theories.Rogers proposes that four main elements influence the spread of a new idea: the innovation itself, communication channels, time, and a social system.


The social system is divided in  sectors:

1.Innovators: The innovators is the sector  of individuals who are very smart,have strong capital liquidity, risk takers.  For e.g: The 1st Sector buys iPhone 8  on the same day of its release 

2. Adopters: Adopters are the individuals who get influenced with innovators and they fall in the second sector of purchasing the product.

For e.g.: people who purchase the product after the iPhone 8 rate is little decreased and they have studied the features of product.

3.Early Majority: They adopt an innovation after a varying degree of time that is significantly longer than the innovators and early adopters. Early Majority have above average social status, contact with early adopters and seldom hold positions of opinion leadership in a system

4.Late Majority :They adopt an innovation after the average participant. These individuals approach an innovation with a high degree of skepticism and after the majority of society has adopted the innovation. Late Majority are typically skeptical about an innovation, have below average social status, little financial liquidity, in contact with others in late majority and early majority and little opinion leadership

5.Laggards : Laggards is the last sector of individuals who have no opinion leadership. They accept the product last among the the others.and they hesitate to change.

This is all about Diffusion of Innovation.

Brand Positioning Bullseye

Brand  Positioning Bullseye provides the the matter to improve on positioning of the brand in the market. This helps to get a distinct place in the minds of the prospect which can help it be a potential customer or consumer.
The brand bullseye consists of few circles like a dart aim board. In this you need to aim every circle carefully to get your brand at the top among the competitors.

Let's get in the depth with every circle of the bullseye:-

1. Point of parity POP : Point of parity is the common associations of a brand,  similar with the competitors. POP can be the reason to run the brand but at the same time if it does not match it can be the reason to drop the brand.
For e.g: The luxury resorts have their ambience / top notch services / delicious food in common with each other.

2.Point of Difference POD : Point of difference are the attributes which can be different from the competing brand and help to stand out of the box in a competitive market.
For e.g: Every Resort will have its premium location adding up to its bucket. Might also have few activities etc.

3.Substantiators :

These are the reasons to believe the proposition. The substantiators provide factual or demonstrable support for the points-of-parity and points-of-difference.
4.Values, traits, character:A set of human characteristics that are attributed to the brand. The personality or character is something to which the consumer can relate. It is the added-value that a brand gains aside from its functional benefits.
For e.g: The main types of brand personality for the resorts : excitement, sincerity, and sophistication.

Hence, always hit the bullseye to help your brand shine.

Intergrated Marekting Communication Tools.

Integrated Marketing Communication Tools Used For Service Promotions.

The American Association of Advertising Agencies defines IMC as “a comprehensive plan that evaluates the strategic roles of a variety of communication disciplines and combines these disciplines to provide clarity, consistency and maximum communication impact.”

3 Major Tools Of IMC:

The Luxury Resorts use these tools to promote itself.

1. Advertising :- Any paid form of  non-personal communication to by a identified sponsar is called advertising. Advertising is Persuasive in nature.Advertising messages may promote the adoption of goods, services, persons, or ideas. Because the sales message is disseminated through the mass media—as opposed to personal selling—it is viewed as a much cheaper way of reaching consumers. However, its non-personal nature means it lacks the ability to tailor the sales message to the message recipient and, more importantly, actually get the sale. Therefore, advertising effects are best measured in terms of increasing awareness and changing attitudes and opinions, not creating sales.

Few types of Advertising:-

• Out Of Home advertising 
• Radio Advertising 
• T.V advertising 
• Print Advertising 

2. Public Relations :-Public relations is outlined as a management operate that identifies, establishes, and maintains mutualist relationships between a company and also the public upon that its success or failure depends. Whereas advertising may be a unidirectional communication from sender (the marketer) to the receiver (the shopper or the retail trade), Public Relation considers multiple audiences (consumers, employees, suppliers, vendors, etc.) and uses two-way communication to watch feedback and change each its message and also the organization’s actions for max profit. 

3.Direct Marketing :- When a identified sponsor uses direct two way communication with prospects its called direct marketing. this is beneficial instead of advertising because this more targeted. The person can showcase its Direct Number to get in touch which helps in direct marketing.

7 P's of Service Marketing.

7 P's of Service Marketing:

There are 4 major P's of Marketing Mix when it comes to product which is tangible in nature.
For e.g. car / bike / radio / mobile etc.
But in the case of services which are intangible in nature there more 3 P's added to old tradition 4 P's For e.g. Services like hospitality / teaching etc.

Traditional 4 P's of Marketing mix used in Service :

1. Product / Service: It is the original service or product that we use .
   For E.g. In this case we take hospitality as a service with the help of luxury resorts.
2. Price : The price at which the service will be offered is the second P. This sector of price is very difficult to decide in the case of services. But its easy to decide the price of the Product by the cost of its raw material incurred in the process of final production.
   For e.g. The luxury resort sells its one double room for Rs-5000 + taxes per night.
3. Place: With product the place is referred to fro where the product can be purchased but with services the place is where the customer can visit and enjoy their service. The place chosen for services has to be up to the mark so, people get attracted to it.
   For e.g. The luxury hotels are located at very well known beaches in Goa,India.
4. Promotion: Since a service providing may be simply replicated promotion becomes crucial in differentiating a service providing within the mind of the customer.Hence services need to advertise heavily to stand out from others.
   For e.g. The resorts use P.R / Digital Marketing / Outdoor Advertising / TVC etc.

The Additional 3 P's for Service marketing are:

1. People: People in a service are the main factor of the service. Because they are the labourers or workers who are goin to provide the service to customers.
   For e.g. The service at the resort is very important extended towards the guests.
2. Process: The process of service delivery is crucial since it ensures that the same standard of service is repeatedly delivered to the customers.
3. Physical Evidence: Since services are intangible in nature most service suppliers try to include bound tangible parts into their providing to boost client experience.
   For e.g. The resorts have quite and elite ambience in the restaurants. 

All About Services.

1. What is a Service ?

• An trade created of firms that primarily earn revenue through providing intangible product and services.
• Service industry is involved  in retail, transport, distribution, food services,hospitality  yet as different service-dominated businesses. Conjointly referred to as service sector, tertiary sector of trade.

      2.What is Service Marketing ?

• Services selling may be a specialised branch of selling. Services selling emerged as a separate field of study within the early Eighties, following the popularity that the distinctive characteristics of services needed completely different ways compared with the selling of physical product.
• Services selling usually refers to each business to shopper (B2C) and business-to-business (B2B) services.