BUSINESS ADMINISTRATION
RETAIL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Laggard
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Mainstream
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Late Adopter
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Early Adopter
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Detailed explanation-1: -Early adopters are the second phase of product purchasers following innovators. These tend to be the most influential people within any market space and they will often have a degree of “thought leadership” for other potential adopters.
Detailed explanation-2: -Early adopters are the first customers to adopt a new product or technology before the majority of the population does. They’re often called “lighthouse customers” because they serve as a beacon of light for the rest of the population to follow, which will take the technology or product mainstream.
Detailed explanation-3: -The best example of early adopters is that of the first iPhone by Apple. When it was first launched in 2007, the iPhone was priced at $600. The price was quite high, as Apple lacked any experience in the industry.
Detailed explanation-4: -Innovators are the first 2.5 percent of a group to adopt a new idea. The next 13.5 percent to adopt an innovation are labeled early adopters. The next 34 percent of the adopters are called the early majority.