How do incentives effect adoption of an innovation? Provide an example of an inn

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How do incentives effect adoption of an innovation? Provide an example of an innovation in your life that was influenced by the perceived relative advantage of the innovation. (EACH PERSON PUT HIS EXAMPLE) Effects of Incentives Incentives are direct or indirect payments of either cash or in kind that are given to an individual or a system in order to encourage adoption of an innovation Incentives increase the rate of adoption of an innovation The quality of such adoption decisions may be relatively low (discontinuance occurs after incentive is removed). Relative advantage is the degree to which an innovation is perceived as being better than the idea it supersedes. The degree of relative advantage is often expressed as economic profitability, as conveying social prestige, or in other ways. The nature of the innovation determines what specific type of relative advantage (economic, social, and the like) is important to adopters, although the characteristics of the potential adopters may also affect which specific sub dimensions of relative advantage are most important. An innovation in my life that was influenced by the perceived relative advantage of the innovation was the first mobile innovation like Nokia brand. At the beginning of this innovation, it was so expensive and not everyone can have it. After few years, it become more familiar with most of the societies because it became cheaper. The reduction of its rate because of the technological advance. Also, many companies began to produce devices with more technologies.

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THE PENCIL THAT GROWS INTO A PLANT

Thanks to the creative folks at Sprout, the world now has pencils that contain seeds inside them that when planted, grow into delicious herbs. Each tip of the non toxic Sprout pencil contains organic seeds that only require soil, water and sunshine to thrive. There are 11 different herb varieties including basil, cherry tomato, mint and sage to name a few.

THE CANDLESTICK HOLDER THAT PRODUCES NEW CANDLES

Designer Benjamin Shine's Rekindle candlestick holder makes recycling candles as easy as child's play. The Rekindle collects the wax from a burning candle and once it's done, all you have to do is insert a new wick, and a new candle is born. While the process can be repeated numerous times, the basic laws of chemistry mean that the candle will get slightly shorter each time as the amount of wax decreases slightly.

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