ABSTRACT
The diffusion of innovation is an essential topic of research in the field of marketing management. Since the 1960s, plenty of innovation diffusion models have been introduced to study the diffusion process of a product. As available in literature, according to Bass the adoption process occurs because of two adopter groups: innovators and imitators. As early market adopters are more open to choices, we assume the early market behaves the same as that of Bass and follows the S-shaped adoption curve. Also the information about the new product spread with time. Main market adopters are genetically utilitarian and much more interested in the applicability of the innovation. Parameter estimation for all above-defined dual models has been adjudged in this section by using the techniques of the nonlinear least squares method. In innovation diffusion literature, most of the product life cycle follows the bell-shape structure.
