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

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