BU352 Chapter 8: Ch8: developing new product
Document Summary
Innovators (2. 5%): those buyers who want to be the first to have the new product or service. Help fain market acceptance, positive word of mouth. Usually innovators are willing to pay extra money. Early adaptors(13. 5%): the second group of consumers in the diffusion of innovation model, to use a product innovation. This group have huge influence on wom. Early majority (34%): a group of consumers in the diffusion of innovation model. When they enter the market, the marketplace has reached its peak. These buyers may have different price or quality range of preference. Marketers can use their product preference for market research. Late majority (34%): last group of buyers to enter a new product market. By the time they enter the market, sales end to level off. Laggards(16%): consumers who like to avoid change an rely on traditional products until they are no longer available.
