Penetration models of new technologies in Greek small and medium-sized enterprises

The concern of this paper is the development of a theory of timing of initial adoption of high-technological products. The empirical aspects of the work presented here deal exclusively with high-technology projects. The theory is intended to be applied to the growth of a broad range of products. We do not distinguish new classes of products or new brands. We focus our attention on infrequently purchased products. The growth model postulated in this work is best reflected by growth patterns similar to that shown in the last two figures of the paper. Adoptions grow to a peak and level-off at some magnitude lower than the peak. The stabilizing effect is accounted for by the relative growth of the replacement purchased components and the decline of the initially bought components. The basic assumption of the model is that the timing of a consumer's initial adoption is related to the number of previous adoptions of high-technology products.