PODCAST on TALC - Technology Adoption Life Cycle
In this podcast, Sam Mishra, the author of Strategic Case Analysis, explains the TALC – Technology Adoption Life Cycle framework from his book. The author begins by explaining the differences between the five user groups of a technology based product, also known as the (1) Innovators, (2) Early Adopters, (3) Early Majority, (4) Late Majority, and (5) Laggards. The author then proceed to explain associated concepts like the following:
- The Chasm: Apparently, a chasm exists between the various user groups, but the chasm that needs to be really crossed for the technology based product to win in the market place is the one that exists between the early adopters and the early majority. There are a lot of reasons why a tech product can’t go past this chasm. For example, if a product is tied to the economy, and the economy sours (as is happening right now at the time of broadcasting this podcast, i.e., mid-2009), then the product can very well fall into the chasm. Another example is the scenario where a bigger competitor with more resources comes and kills your product before you have been able to sell it to any Early Majority users.
- What strategies one should use while selling a technology based product to the early majority (clearly, the early majority will pursue the product / technology if it can given them a competitive advantage) vis-à-vis the late majority (this group can be sold the idea that since everyone else is using it, they should use it too; otherwise they will have a competitive disadvantage).
- Explains how the different stages of the <b>PLC</b> (product life cycle) and the <b>S-Curves</b> frameworks map into the five user groups or the five segments of TALC. For example, mathematically speaking, the S-Curve is the INTEGRAL of the TALC bell-curve, or if you plotted the area under the normal bell distribution, you would get the S-Curve!
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