IB Design & Tech Chapter 5.6

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Terms in this set (16)
InnovatorsThe smallest group and the earliest to adopt of the consumer groups. They are characterized by individuals who are very well informed and highly adventurous in their purchasing patterns.Categories of ConsumersInnovators, Early Adopters, Early Majority, Late Majority, and LaggardsEarly AdoptersLooking to be the first amongst the mainstream population to purchase new products. This group is generally well informed and has the financial resources to make purchases, often at premium prices.Early MajorityA pragmatic group of consumers who are looking for confirmation about the quality and functionality of a new product. While they are not leaders, they still make a decision just before the majority of the market.Late MajorityMore cautious and skeptical about innovations. They will make a purchase only after the majority of the consumer group have paved the way.LaggardsThis group is more resistant to change and its opinions are often based in the past on what has been proven to be successful. This group most likely has the least financial resources at their disposal, and as such must be totally convinced before adopting.

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