We've talked before about the product adoption cycle before on the blog, but it continues to interest us in relation to the adoption of man-made diamond engagement rings. We are still firmly within the innovator phase of the innovation adoption life cycle which is a model that shows the rate at which people adopt a new technology like ours:
Some people, the vast majority of people in fact, are not innovators or even early adopters. They need the validation of the crowd before they take the leap with any product. They have to see others go before them before feeling confident enough to make a purchase in any new innovative product category. Innovators however are the those who take the lead on new technologies like man-made diamonds.
This can be seen in the kind of people who purchase lab created diamond engagement rings from us in this early phase of their introduction to the market. Our customers are generally people who have an appreciation for either the science behind the technology or those who feel so strongly about the ethical credentials of man made diamonds over natural stones that the choice is a given. The fact is that the clear advantages of man made diamonds are sufficient enough for these people to easily validate a purchase.
It is with great credit to these innovators and early adopters that eventually results in the validation required by the majority to adopt an innovation. The long standing and ingrained nature of the natural diamond engagement ring market in particular means that the process of adoption will be slow and the concept will find it difficult to diffuse into the majority (which could be described as the mainstream).
We actually quite like this fact though. Of course we will continue to spread the word about our cause and promote the benefits of the man made diamond category, but we are proud that for now, we're not for everyone, and it's likely man made diamond engagement rings won't be for everyone for a long time yet. We are happy in the meantime to serve the innovators, the brave and insightful few who appreciate the benefits of our engagement rings.
This can be seen in the kind of people who purchase lab created diamond engagement rings from us in this early phase of their introduction to the market. Our customers are generally people who have an appreciation for either the science behind the technology or those who feel so strongly about the ethical credentials of man made diamonds over natural stones that the choice is a given. The fact is that the clear advantages of man made diamonds are sufficient enough for these people to easily validate a purchase.
It is with great credit to these innovators and early adopters that eventually results in the validation required by the majority to adopt an innovation. The long standing and ingrained nature of the natural diamond engagement ring market in particular means that the process of adoption will be slow and the concept will find it difficult to diffuse into the majority (which could be described as the mainstream).
We actually quite like this fact though. Of course we will continue to spread the word about our cause and promote the benefits of the man made diamond category, but we are proud that for now, we're not for everyone, and it's likely man made diamond engagement rings won't be for everyone for a long time yet. We are happy in the meantime to serve the innovators, the brave and insightful few who appreciate the benefits of our engagement rings.
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