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

Author

Listed:
  • Anchal
  • Arunava Majumder
  • Pardeep Goel
  • Manoj Singh Adhikari

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 Fierce competition on a worldwide scale combined with the ever-changing environment has rendered software products outdated.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.

Suggested Citation

  • Anchal & Arunava Majumder & Pardeep Goel & Manoj Singh Adhikari, 2024. "Adoption of a newly launched software product in the market by innovation diffusion modelling," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 34(4), pages 31-52.
    • Handle: RePEc:wut:journl:v:34:y:2024:i:4:p:31-52:id:2
    DOI: 10.37190/ord240402
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    References listed on IDEAS

    as
    1. Junfei Zhang, 2018. "The Existence of Strong Solutions for a Class of Stochastic Differential Equations," International Journal of Differential Equations, Hindawi, vol. 2018, pages 1-5, October.
    2. Arun Kumar & Deepika Garg & Pardeep Goel, 2019. "Mathematical modeling and behavioral analysis of a washing unit in paper mill," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 10(6), pages 1639-1645, December.
    3. Sunita Kumari & Pooja Khurana & Shakuntla Singla & Arun Kumar, 2022. "Solution of constrained problems using particle swarm optimiziation," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 13(4), pages 1688-1695, August.
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