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Diffusion of Innovations: The Five-Phase Adoption Model

In: The Cosmos Economy

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  • Jack Gregg

Abstract

A robust space-based market economy will not suddenly emerge fully formed from thin space. Different ventures will follow their growth curve at different rates. Regardless of the speed of adoption, space enterprises and the new markets they serve, will progress through five phases of adoption that are characterized by the operating environment of their enterprise, the constraints and advantages of their business model, and the readiness of customer demand. Building upon Everett Rogers’ pioneering work, Diffusions of Innovation (1962), the five phases of space economy adoption are (1) Innovators, (2) Early Adopters, (3) Early Mainstream, (4) Late Mainstream, and (5) Lagging (Late) Adopters. These five phase categories best characterize the likely development and adoption of the new space economy.

Suggested Citation

  • Jack Gregg, 2021. "Diffusion of Innovations: The Five-Phase Adoption Model," Springer Books, in: The Cosmos Economy, chapter 28, pages 237-256, Springer.
  • Handle: RePEc:spr:sprchp:978-3-030-62569-6_28
    DOI: 10.1007/978-3-030-62569-6_28
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