Studying innovation adoption using different distribution functions

In today's technologically advanced world, every market area is witnessing an increase in the demand for product innovation, so a company must keep innovating in order to get an advantage over rival businesses. Research in the field of innovation diffusion has been primarily based on modelling. The innovation diffusion model is a notion that describes how novel concepts, items, or technological advancements are embraced and disseminated within a community or social system. The Bass innovation diffusion model and many of its extended forms have been highly focused in marketing literature. In this paper, a unified approach is used to test whether the diffusion models are affected if we increase the number of parameters by taking different distribution functions for the adoption rate. Thus, a set of diffusion models that depict different market scenarios have been presented and compared with the standard model. The proposed model has been analyzed on Samsung mobile phone and I-Phone sales data sets and their inferences are quite promising.