Social Factors That Affect Personal Lifestyle

1060 Words5 Pages
First of all, I should define a social factor as a driver that affect personal lifestyle. It can include such aspects as buying habits, educational level, emphasis on safety, religion aй вnd beliefs, health consciousness, sex distribution, average disposable income level, social classes, family size and structure, attitudes toward investing style, green or ecological products, renewable energy, population growth rate, immigration and emigration rates, age distribution, life expectancy, attitudes toward work, career, leisure, retirement, customer service, product quality and etc. All these aspects can influence directly or indirectly on the innovation processes. As it was mentioned before, the invention transformation into the innovation and the innovation diffusion is tightly connected. When the invention becomes interesting for more people, it plays a certain social role. So, in this moment the invention stops to be just “a model” and turns into innovation. According to Rogers (2003), social factors that may accelerate or slow this process:…show more content…
The demand pull theory says that the market demand is a catalyst of technological change (Scherer, 1982). When the demand for a certain product exists, so the process of the invention transforming into the innovation makes sense. For instance, it is proved that users play more active role than specialist manufacturers in the innovation process – process, when innovations are entering the market. The research showed that social welfare is increasing when the innovation is catalyzed by both users and manufacturers (Ogawa & Pongtanalert, 2011). A new innovation paradigm shows that consumers collectively generate massive amounts of product innovations (Von Hippel, Ogawa, & De Jong, 2011). First of all, users develop new products for themselves. Secondly, other users evaluate and reject, or copy and improve. Thirdly, manufacturers enter when the market potential is clear and
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