Issue: 2024/Vol.34/No.4, Pages 31-52
ADOPTION OF A NEWLY LAUNCHED SOFTWARE PRODUCT IN THE MARKET BY INNOVATION DIFFUSION MODELLING
Anchal
, Arunava Majumder 
, Pardeep Goel, Manoj Singh Adhikari
Cite as: Anchal, A. Majumder, P. Goel, M. S. Adhikari. Adoption of a newly launched software product in the market by innovation diffusion modelling. Operations Research and Decisions 2024: 34(4), 31-52. DOI 10.37190/ord240402
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 Fierce competition on a worldwide scale combined with the ever-changing environment has rendered software products outdated.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
Received: 29 August 2023 Accepted: 26 September2024
Published online: 19 December 2024