What is an early adopter customer?
What is an early adopter customer?
The term “early adopter” refers to an individual or business who uses a new product, innovation, or technology before others. Companies rely on early adopters to provide feedback about product deficiencies and to cover the cost of the product’s research and development.
What are the characteristics of early adopters?
Early adopters will normally have a reasonably high social status (which in turn enables thought leadership), reasonable access to finances (beyond those of later adopters), high levels of education and a reasonable approach to risk.
Who were early technology adopters?
History. Typically, early adopters are customers who, in addition to using the vendor’s product or technology, also provide considerable and candid feedback to help the vendor refine its future product releases, as well as the associated means of distribution, service, and support.
What comes before early adopters?
The curve has a normal distribution. As you can see from the graphic, early adopters are the second group to adopt a new technology or product. The first group is called innovators, and the ones who adopt the technology after the early adopters are the early majority, late majority, and laggards, respectively.
What are typical characteristics of the early majority?
Individuals in the early majority tend to be less affluent and less technologically educated than innovators but are willing to take a chance on new products.
Who follows early adopters?
The model indicates that the first group of people to use a new product is called “innovators”, followed by “early adopters”.
What is an early adopter consumer?
Early adopters are one of five types of consumers (the others are innovators, early majority, late majority, and laggards) along the “Diffusion of Innovations Curve” pioneered by Everett Rogers.
When do consumers decide to adopt a new product?
The early majority adopt the product only after it has been accepted somewhat widely. These consumers perceive more risk in new products than do innovators and early adopters. Because this group is so large, it decides whether the product will succeed in general use or serve a narrow market niche.
Who are early adopters and innovators?
Early adopters make up 13.5% of the total purchasers. Although they do not move as quickly as innovators, they try a new product early in its life cycle without waiting for many people to accept it. As innovators, they are reasonably affluent and want to be among the first to purchase a new product.
What is the difference between early adopters and value shoppers?
Early adopters – Young and restless; early adopters find a practical use for the new product and communicate the value of the new product to their followers. Early majority – Value shoppers; the early majority do not adopt new products until they are sure the new product will have value for them.
