Crossing the innovation chasm in the South African ferroalloy industry

MBA, North-West University, Potchefstroom CampusExploratory research and an empirical study were conducted to define the perceived variables that affect the rate of technology adoption and increase the likelihood of successful innovation diffusion within the South African ferroalloy industry. This objective was framed within the context of crossing the innovation chasm into the mainstream market. The cardinal variables that have the greatest effect in persuading potential adopters to adopt a given technology early in the diffusion process were identified, thereby creating the conditions for the technology product to successfully cross the innovation chasm. From the research, the factors “relative advantage,” “result demonstrability” and “ease of use” were found to be the most important and strategic characteristics that should be communicated to potential adopters with the aim of increasing the rate of innovation diffusion and technology adoption. Three new adopter types emerged from the research pertaining to the degree of personal innovativeness of adopters. “Eager innovators” and “innovative leaders” were found to be the ideal market segment for a targeted marketing campaign, due to their inherent willingness to change and ability to influence adoption decisions within the industry.Master