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Consumer Buying Behavior:N E W P R O D U C T
C O N S U M E R T Y P E S
I N N O V A T O R SThey are the smallest group of potential buyers, representing only 2%
of the market
They are frequently exposed to innovative ideas, and are the "techies"
of the marketplace, that are willing to experiment with anything new
They may influence other buyers in their same group, but their
purchases do not lead to a widespread trend
This group represents true opinion leaders who set examples by their
decisions and represent about 15% of the market
They need to understand the benefits and will seek out references from other
satisfied users before making a purchase
These consumers are willing to try a new product if it will significantly
improve their lifestyle or allow a quantum improvement for their business
This group is slower to try new products, they only enter the market only
after their peers have actively embraced the product
They represent 39% of the market and are far more pragmatic and less
technology-driven than the previous groups
They are looking for modest productivity improvement, and they care
about the longevity and reputation of the company providing the product
This group makes its purchases late in the cycle, often after the
innovators and early adapters have moved on to new product forms
They represent another 39% of the market
They are most concerned with low cost and customer support, and
they rely on the mass media for purchasing information
These consumers are called the laggards, who are excessive
traditionalists and make up 5% of the market
They wait until price has bottomed out, competition is intense, and
the product has become an absolute need
They tend to purchase products the other groups would consider
obsolete
Source: http://www.bizjournals.com/milwaukee/stories/2003/04/28/smallb2.html
A D A P T O R S
L A T E M A J O R I T Y
E X C E S S I V E T R A D I T I O N A L I S T S
E A R L Y M A J O R I T Y