Target Market and Adopter Groups - Essay Example

While innovators are proven “risk takers” who are the “first 2.5%” that will purchase a product, and early adopters are the ones who will purchase a product after some positive response from the overall market (about 13.5% of consumers), the early majority are the group of consumers who actually tends to avoid risk and purchase a product after the majority of the market have already made a positive response about the product (34% of consumers) (“Product Diffusion Curve,” n. p.). Meanwhile, consumers in the late majority group are characterized by skeptical consumers who are only willing to purchase a product after the product is already commonly used (another 34%), and laggards are the ones that will last purchase a product (16% of consumers) (quickmba.com, n. p.). With this knowledge, I will choose to target the early majority; given that I am offering a new product, I would package the product to immediately generate positive response and interest.

I am optimistic that getting the support of the early majority would lead the product to be accepted by the majority of consumers.