The innovation diffusion model suggested by various researchers concerns to how innovations are spread. In this respect, diffusion is claimed to be the process through which an innovation spreads via communication channels over time among the members of a social system (Rogers, 2003; Stoneman, 1995, 2002). Drawing from the diffusion of innovation theory, we normally come to infer that the new technology pursues a diffusion path illustrated by a logistic curve and it illustrates emergent behavior and feedback when aggregates of individual behavior scale up to a similar behavior on a system level (Rogers, 1994, 2003) (Figure 1).
Roger’s standard diffusion process diagram
Many researches in the past in the area of innovation adoption and prediction have attempted to model the various structural aspects of innovation diffusion processes and properties of the product life cycle curve namely, the Bass Model, Gompertz Curve, the Pearl Curve, the Mansfield Model, the Blackman Model, the Fisher-Pry Model, the NSRL Model, the Non-Uniform Influence (NUI) Model, the Sharif-Kabir Model, the Weibull Distribution Model (or Sharif-Islam Model), and the Horsky Model. These models are now used widely for demonstrating and explaining technological changes and diffusion processes of new ideas (Tingyan, 1990).