Adopters Categories

Posted in Marketing and Strategy Terms, Total Reads: 935
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Definition: Adopters Categories

Adopters are customers who have started using or exploring the product offerings. Now adopter categories can be defined as dividing these adopters on the basis of time and level of willingness with which they tried or will try the product/service. 

Market researchers have classified consumers into five categories on the basis of their adoption of a product during different stages of that product’s life cycle. These 5 categories are, Innovators, Early adopters, Early majority, Late majority and Laggards.


CHARACTERISTICS AND RELATION WITH PRODUCT LIFE CYCLE

1. Innovators

Innovators are risk takers and they seek changes. They are the first one to buy a new product. They try the product in its initial introduction phase.

2. Early adopters

Early adopters are prestige oriented opinion leaders. They have higher social status, financial liquidity, education. They use the product during its late introduction phase of its life cycle.

3. Early majority

They are the leading segment of the market, about one third of the target market. Early Majority have above average social status and are not opinion leaders. They come into picture during the growth phase of the product.

4. Late majority

Followers of the early majority, typically sceptical about an innovation, have below average social status and little financial liquidity. They are about 36 percent of the target market. They try the product in its late growth and maturity phase.

5. Laggards

Conservative, price conscious segment, aversion to change-agents. They are oldest and most traditional. They show their willingness to use the product in its late maturity phase and diminishing phase.


EXAMPLES

1. Innovators

People who are and will be thronging apple stores for Apple watch.


2. Early adopters

People in India who are now exploring ecommerce.


3. Early majority

People using cloud services


4. Late majority

People who have just started using debit/credit cards


5. Laggards

Those who are buying Apple iPhone 4(with respect iPhone, these people are laggards)


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