Xelflex is a sportswear fashion brand that specialises in creating clothing with motionsensors embedded in the fabric. The main benefit of innovative fabric is that it enables athletes tocollect real-time information that can be used for perfecting motions during sporting activities. Due to the technology in the fabric, it is has a premium priceand available in selective stores.Despite the brand’s benefits and innovativeness, it is uncertain if young adult consumers aged 18–25 will adopt the sportswear. Some young adults insist that they do not want to risk paying a high . List the five 5 product characteristics that influence the diffusion rate of a new product. Explain how Xelfelx marketers can apply each characteristic to clearly understand how these characteristics will influence the diffusion rate of its new premium products.
The diffusion rate of a new product can be affected by various factors such as; firstly, relative advantage of product which is the degree to which consumers perceive new product being superior compared to the existing products. Xelflex can use this characteristic by using the innovative fabric to lure consumers to buy.
Secondly, compatibility is the other characteristic. Xelflex marketers should show how the new fabric is consistent with their present needs and practice.
Thirdly, there is complexity which indicates the degree to which the new fabric is easy to use.
Fourthly, the product should possess the trialability which indicates how the new product can be tried on limited basis.
Lastly, the new product should have observability.