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Technological Advancement

I heard on Rush’s show today, how many years it took major technologies to reach 50% of the homes. Very interesting to see the number of years reduced for each advancement within the last 100 years.
Number of Years It Took for Major Technologies to reach 50% of Homes

Here is some interesting that Rush shared about the rule of thumb on new products introduced to the public.

RUSH: There’s a rule of thumb in marketing when a new product is introduced, and I just want to mention this to you as a follow-up to the number of years it took major technologies to reach 50% of American homes: telephones 71 years, electricity 52, radios 28 years to reach half of American homes, iPods four years, DVD players five, Internet access ten, great examples. Here’s the rule of thumb here. When an innovation reaches 10% of the population, that’s when the floodgates open, and the acceleration to mass demand kicks in. When 10% of the population accesses a new technology or a new product, that’s when the manufacturer says, “Okay, we got something here, we got a hit on our hands,” and that’s when the mass marketing begins, the prices start coming down. Now, if that figure is still relevant, 10%, think of how long it took, if it took 71 years for the telephone to reach half the American homes, how long did it take for 10% of them to get a phone, or any of the other items on the list? It took a long time. Because the floodgates open after about 10%, that’s when the prices come down and a vast majority of people can afford whatever the new technology is.

What product could be next?

Categories: News, Technology
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