Question 2: (50 marks- 500wards)

Frank Bass (1969) developed a model for the diffusion of innovations that overcomes the start-up problem. The Bass diffusion model has become one of the most popular models for new product growth and is widely used in marketing, strategy, management of technology, and other fields.

a.Explain how Bass solved the start-up problem (35 marks-300 wards).

b.Draw a diagram that represents Bass Diffusion Model and explain it (15 marks-200wards).