ITPEC FE Subject A October 2024 Question 50
In innovation theory, consumers are classified into five (5) groups innovators, early adopters, early majority, late majority, and laggards according to the timing of their purchase of a new product. Which of the following is the appropriate explanation of the early adopters?
Explanation
Adopt early, follow trends, research for themselves and influence others — early adopters are the opinion leaders of the diffusion of innovations model.
Rogers' model orders consumers by when they adopt a new product:
- Innovators (about 2.5%) — adopt first, venturesome, unconcerned about risk
- Early adopters (13.5%) — adopt early after gathering information themselves; opinion leaders who influence others
- Early majority (34%) — deliberate, adopt once early adopters have proven the product
- Late majority (34%) — skeptical, adopt after most people around them have
- Laggards (16%) — most conservative, adopt last or never
Answer (a)
Why not others:
- •(b) — adopting at the very soonest phase without worrying about risk describes the innovators
- •(c) — skeptical and adopting only after most people nearby have adopted describes the late majority
- •(d) — the most conservative group, adopting only once a trend is common or refusing it, describes the laggards
Key rule: Early adopters matter most to marketers because their influence carries a product on to the early majority; innovators come first but sway few others.
Business Strategy Management · AI-written, may contain errors
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