Vol. 6, Issue 2, Part A (2024)

The strategic intricacies of technology-driven and service-oriented businesses are sometimes overlooked by traditional diffusion models that highlight pricing as a key adoption driver in the contemporary marketplace. In the current study we suggest a modified diffusion model that takes into account five important strategic factors such as distribution reach, product quality and performance, customer service and after-sales support, advertising intensity, and innovation capabilities. The goal is to create a more thorough, mathematically based model that accounts for the real-world factors that influence decision-making when innovations spread under fixed price conditions. In this study's diffusion model which incorporates five important non-price components. The model is particularly suitable for industries like electric vehicles, smartphones, and digital services etc, where pricing strategies are relatively stable over time.