a. Innovators who are presumed to account for 2.5 percent of those who would purchase the product. These individuals, should they accept the changes in the first place are classed as being venturesome, willing to try new things. In some respects these individuals take on the role of early trend setters, or least may see themselves in this role.
b. Early adopters are the community trendsetters. They adopt new product with caution and comprise 13.5 percent of the segment
c. Early majority make up an estimated 34 percent of the market and, though they are not opinion leaders, they adapt to change ahead of the average buyer.
d. Late majority reprised 34 percent of this sector who are somewhat conservative and skeptical about change and innovation
e. Laggards are about 16 percent of the market and very much bound by tradition. They adopt only if the change itself becomes a traditional thing to do.
Thus, under a probabilistic examination, the new product not only has a small market to appeal to, but it faces the further barrier of being unknown and lacking credibility. In this situation, the innovation is far likely to succeed by forming a strategic with a company already in the market, rather than trying to go it alone. See Figure 10.2
Figure 10.1 The Opportunity Grid
a. Innovators who are presumed to account for 2.5 percent of those who would purchase the product. These individuals, should they accept the changes in the first place are classed as being venturesome, willing to try new things. In some respects these individuals take on the role of early trend setters, or least may see themselves in this role.
b. Early adopters are the community trendsetters. They adopt new product with caution and comprise 13.5 percent of the segment
c. Early majority make up an estimated 34 percent of the market and, though they are not opinion leaders, they adapt to change ahead of the average buyer.
d. Late majority reprised 34 percent of this sector who are somewhat conservative and skeptical about change and innovation
e. Laggards are about 16 percent of the market and very much bound by tradition. They adopt only if the change itself becomes a traditional thing to do.
Thus, under a probabilistic examination, the new product not only has a small market to appeal to, but it faces the further barrier of being unknown and lacking credibility. In this situation, the innovation is far likely to succeed by forming a strategic with a company already in the market, rather than trying to go it alone. See Figure 10.2
Figure 10.1 The Opportunity Grid
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