"Value: Consumers could also resist acceptance of an innovation, as they may feel low about the perceived value; consumers may perceive the new product/service offering to be the same as existing offerings, and “nothing new” or “better in value.” For example, while assessing mobile charges, people compare the post-paid plans with the pre-paid plans in terms of rental as well as call charges, and conclude that the former are cheaper, inspite of rental being high. The perceived lack of value may be i) the product/service does not provide much benefit over the existing alternatives; ii) the product/service is costly, and doesn’t seem to be of worth the price. Consumers’ perception of “high price” always takes over the perception over product value or product benefit; in fact, values is always assessed in terms of price; Also, price is a “catchy” issue than the benefits attached; price appears more tangible, than benefits; and, consumers generally tend to know more quickly about price, than they do about the benefits that the product brings along with it. Source: http://in.docsity.com/en-docs/Diffusion_of_Innovation_-_Consumer_Behavior_-_Solved_Quiz_"
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Innovation would be the continuing development of new customers price by means of solutions of which meet fresh requirements, unarticulate requirements, or even outdated customer and marketplace desires within benefit including brand new techniques. This is successfully done through more efficient products, procedures, services, technologies, or perhaps suggestions which can be easily accessible to market segments, government authorities, and modern society. Development is different from excogitation for the reason that advancement refers back to the utilization of an even better and also, as a result, book strategy or perhaps method acting, although advent relates much more directly to the actual coming of taking that approach or perhaps method acting by itself. Creativity is different from betterment in this development refers to the view of doing something different (Latissimus dorsi. innovare: "to improve") as opposed to accomplishing the same principle best.
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