Adoption of a newly launched software product in the market by innovation diffusion modelling

Anchal (mehtaanchal27@gmail.com), Arunava Majumder (am.arunavamajumder@gmail.com), Pardeep Goel (pardeepgoel1958@gmail.com) and Manoj Singh Adhikari (manoj.space99@gmail.com)

Operations Research and Decisions, 2024, vol. 34, issue 4, 31-52

Abstract: The growing significance of software upgrades is one of the most intriguing and pertinent market trends of the last few years. Fierce competition on a worldwide scale combined with the ever-changing environment has rendered software products outdated. During a program’s early stages, increasing efforts are made to increase overall performance before its inherent performance limit is reached. To characterize the process of awareness, appraisal, and decision-making, mathematical models with step structures are presented. The first step is to present a system of ordinary differential equations that includes both the awareness and decision-making stages. Furthermore, it is demonstrated that if the adoption rate is strongly nonlinear, then although there exists a stable equilibrium, it is not a global attractor. It is shown that the system has bifurcation points. The direction of equilibrium bifurcation is also explored.

Keywords: diffusion modelling, newly launched software; nonlinearity, equilibrium (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:wut:journl:v:34:y:2024:i:4:p:31-52:id:2

DOI: 10.37190/ord240402

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