1. Analyse the situation from the consumer's standpoint. What is TiVo®? What factors facilitate the adoption? What factors make adoption difficult? Who is TiVo best suited for?
Introduction
From a consumer¡¦s standpoint, the introduction of new innovation in technology might create confusion and uncertainty to them. In many instances consumers may adopt an expectative approach of ¡§wait and see¡¨ in order to obtain more information and reaction from the market prior to making a decision to purchase that particular product. It is imperative that companies must be aware of this so that it focuses its resources and efforts to ensure that the new products launched is successful.
What Is TiVo?
In essence, TiVo is a digital video recorder which enables a person or a group of persons in a household to create their own personal television schedule by using the regular television programs. It offers consumers the choice of when and what to watch through TiVo¡¦s box and services. The additional features include the ability to skip commercials, to pause live television programs and input their own viewing preferences.
Essentially it is a device that allows the user to move to another program more efficiently. The system is able to remember the consumer¡¦s favourite programs and record those programs. Overall, TiVo offers consumers independence because their own day-to-day schedule will no longer be dependent on the television networks and each household will be in control of their own television entertainment. Therefore TiVo¡¦s concept is innovative and captures a market need.
What Factors Facilitate its Adoption (Strengths)?
There are a number of factors that facilitate the adoption of TiVo:
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