Do you think everyone will immediately adopt a new innovation or product and looks forward to trying out a new disruptive product when it comes out?
To understand how the market adopts a new product, Everett Rogers first mentioned and described 5 types of adopters for new products in his book Diffusion of Innovations in 1962. After identifying adopters’ personality traits, he divided the consumers into five categories who have a willingness to try the innovation.
Understanding the product adoption curve and developing a targeted marketing strategy based on the curve is important for the success of the innovation.
So, In Roger’s adopter categories, consumers differ greatly in their readiness to try new products. Let’s take a look at 5 types of adopters in the curve, and how adopters adopt a new product over time.
The 5 Types Of Adopters For New Products: Innovators, Early Adopters, Early Majority, Late Majority, and Laggards
Innovators:
They are the first customers and venturesome who are willing to take risks. They make up 2.5% of total purchasers and are eager to know the possibilities of innovation and new ways of doing things.
When a new product comes out, it tends to be expensive. It means innovators are usually wealthier than other adopters in the category, and younger in age. Financial resources allow them to adopt the new technology and absorb failures when that product does not deliver the benefits that are promised. Innovators can be influencers who love testing, sharing reviews, and feedback.
Early Adopters:
These individuals come second in the product adoption category after innovators. They are still the ones who use the innovation before most of the market tries and constitute 13.5% of the population. Early adopters are opinion leaders in their communities and adopt new ideas early but carefully. These consumers watch more for new innovations than innovators and tend to be more selective and make more reasoned decisions when purchasing.
Early Majority:
they are consumers who are the first substantial group (34%) of the target market to adopt a new product. They are deliberate, although they rarely are leaders, they adopt new ideas before the average person. This group is less educated, not financially stable, and usually looks for cues from innovators and early adopters. Their willingness to try innovation derives from influences from innovators and early adopters whom they follow or know personally. They start trying a new technology after waiting for 2 months and checking reviews.
Late Majority:
Individuals are the ones who are more skeptical and adopt innovation only after most parts of people have tried it. They are the last substantial group (34%) of the total market. Adopters in this category have fewer financial resources, lower social status, and very little opinion leadership compared to the other groups of adopters. Furthermore, they tend to be very price-sensitive and typically want to make a purchase at bargain prices. Overall, they are careful when comes to innovations and tend to wait for most others in their social system try first.
Laggards:
These consumers are lagging adopters who are tradition-bound. They make up the last segment(16%) of the market and are mostly seniors who do not like new things and only accept new experiences when forced to. Laggards are considered individuals with low income, low status, and less educated.
In conclusion
The abovementioned adopter’s category may require different marketing approaches. product adoption curve suggests that an innovating firm should research the characteristics of innovators and early adopters in their product categories and direct initial marketing efforts toward them.
Related article: Stages in the consumer adoption process
