It's a short answer test. Technology Coursework Assignment.

It's a short answer test need to answering following questions relating to this course, I will post journal entry I did before.
1 How do lead user teams identify important emerging needs in their target market? Explain the relationship between uncertainty and resource commitment.
1 In order for lead users to identify emerging trends in the market, it is important that they conduct thorough research based on which types of innovation is easily adaptable and is still in the phase before early adoption. Accordingly, uncertainty and resource commitments are two different trajectories of investing in time and resource commitment for any innovation.
2 List and discuss the innovation attributes that affect the rate and level of diffusion. Give examples using one of the technologies from your journal entries (it may be the one your team did).
2 The five different attributes that affect the rate and level of diffusion of an innovation are; (1) compatibility, (2) complexity, (3) observability, (4) relative advantage, and (5) trialability. First, compatibility refers to how does the innovative technology fits with the consumers’ lives. Second, complexity, refers to how difficult it is to use the technology relative to the expertise of the consumers. Third, observability is the level of ‘awareness’ of the consumers as to how a technology is being used. Fourth, relative advantage refers to the benefits that a consumer will derive from a product compared to others. Fifth, trialability refers to how much can users ‘try’ a product before having to decide whether to purchase it or not.
One good example of this are Internet-of-Things (IoT). Accordingly, it could be seen that IoT is at the mid-level of diffusion since despite its relative advantage and observability, integrating it in one’s household would require the user to purchase these products rather than merely ‘trying them’. There’s also the issue of being too complex especially for certain consumer segments like the elderly.
3 What are the key dimensions of product advantage? Give examples using one of the technologies from your journal entries (it may be the one your team did).
3 The key dimensions of product advantage include; (1) cost, (2) niche, and (3) product/service differentiation. One good example of an innovation that has a product advantage is techno-finance. As compared to its predecessors, techno-finance allows for t...