Diffusion Process
The manner in which different members of the target market often accept and purchase a product (go through the adoption process)
Innovators
Techno-savvies first customers to buy a product, 2.5 % of consumers
Early Adopters
Tend to be opinion leaders. Adopt new products but use discretion, 13.5%
Early Majority
34% of consumers, first part of the mass market to buy the product
Late Majority
Less cosmopolitan and responsive to change, 34%
Laggards
Price conscious, suspicious of change, 16%, do not adopt until the product has reached maturity.
Implications to marketers, company must promote product to create widespread awareness of existence and benefits.
Product and physical distribution must be linked to patterns of adoption and repeat purchase.
Discussion topic: Discuss the differences in the new product development process for digital goods versus tangible goods, consider intellectual property issues, standards issues etc?
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