Chapter 8

Crossing the Chasm is a term used in marketing to describe the critical gap that exists between early adopters of a new technology product and the majority of mainstream consumers. The term was coined by Geoffrey Moore in his book "Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers." It refers to the challenge of transitioning from selling to early adopters who are more receptive to new technology to selling to the majority of consumers who are more risk-averse and require more convincing. The process of crossing the chasm involves understanding the different needs and preferences of these two groups and developing a marketing strategy that appeals to the mainstream market while still retaining the enthusiasm of the early adopters.gpt

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Just  adoption.sum() + bonus of people already using. Peak of majority also reflection point of diffusion

• Radical more risky → people tend to avoid risk because loss feels more bad → so consumer underestimate benefits of innovation → company on the other hand has spend a lot of time developing → their baby → overestimation → 9x gap 

• Chasm many companies focus on early adopters and can’t jump to the early majority → inherently different types of people → you need to convince early adopters w/ other early adopters → beachhead technique 

The primary challenge for a manager in a space economy start-up is gaining market share, which requires understanding and applying concepts like Crossing the Chasm, Roger's Innovation Characteristics, and Prospect Theory to develop effective marketing strategies and position the product for success in a competitive and dynamic field. gpt

For a manager in a start-up, the primary challenge would be to gain market share in the space economy. It is a highly competitive and dynamic field, and there are several factors that can impact the success of a product.

To gain market share, it is essential to understand and apply the concepts of Crossing the Chasm and Roger's Innovation Characteristics. The Crossing the Chasm model highlights the gap between early adopters and the early majority and suggests ways to overcome this chasm to gain market traction. One strategy would be by identifying and targeting the early majority, understanding their needs and pain points, and developing a marketing strategy that addresses these issues effectively.

After earning early adopters, Roger's Innovation Characteristics can be used to understand the process of adoption and help position the product in a way that appeals to the early majority. These characteristics include relative advantage, compatibility, complexity, trialability, and observability. By understanding and applying these concepts, the start-up can develop a product that is seen as superior to existing options, is compatible with the early majority's needs, and is easy to use and trial.

Lastly, Prospect Theory, which highlights the psychological biases that impact decision-making, can be applied to understand the behavior of potential customers and develop a marketing strategy that takes these biases into account. By leveraging these concepts, the start-up can overcome the challenges of gaining market share and convincing the early majority of its product and position itself for long-term success.

In conclusion, the new space economy presents several challenges for start-ups looking to gain market share and convince the early majority of their product. However, by understanding and applying the concepts of Crossing the Chasm, Roger's Innovation Characteristics, and Prospect Theory, it can overcome these challenges and position itself for great success.3/3