Describe the elements in the diffusion of innovations with suitable examples.

The four elements of diffusion, are -

(1) Innovation, (2) Channels of Communication, (3) Social System, and (4) Time.

(1) Innovation:

Innovations can be technological advances that create new or improved products, or they can be symbolic representations that change the meaning of products. Marketers are concerned with the spread of new products, particularly innovations, across markets. This means how the new product is adopted, as success of new product is linked to profitability, on an average only one out of five products that a company develops and tests is successful. Therefore, by diffusion of new products we mean that the majority of products are not adopted by _________ ___ ___ ________ ____ _____ _________ _______.
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