Innovators and early adopters will start early the adoption process of a new product. In contrast, the early majority, late majority, laggards categories will take time to in the buyer decision process.
Consumers pass through five stages in the process of adopting a new product. Innovators. Early Adopters. Early Majority. Late Majority. Laggards.
Early adopters are influenced by respect from opinion leaders in their communities and adopt new ideas early but carefully. The early majority act deliberately. They rarely are leaders who adopt new ideas before the average person. The late majority have skeptic altitude who adopt an innovation only after most people have tried it.
It has survived the development process and it is now on the way to commercial success (if all goes well, that is!). ' Commercialization ' is the process or cycle of introducing a new product or production method into the market.
The first users of the new product are called innovators. They tend to be younger people with relatively high incomes, who are willing to spend more than normal sums of money for the product, and take pride in being the first among their peers to own a particular new product.
The firm should study innovators and early adopters’ characteristics and should focus on marketing efforts to them. Most innovators are relatively younger, better educated, and higher in income than later adopters and nonadopters.
Early adopters make up 13.5% of the total purchasers. Although they do not move as quickly as innovators, they try a new product early in its life cycle without waiting for many people to accept it. As innovators, they are reasonably affluent and want to be among the first to purchase a new product.
Early adopters are influenced by respect from opinion leaders in their communities and adopt new ideas early but carefully. The early majority act deliberately. They rarely are leaders who adopt new ideas before the average person.