Question

The diffusion of innovation curve shows the typical distribution of adoption for five different categories of consumers. Rank the order of these consumers, starting with the first group on the top and ending with the last adopter group on the bottom.

Answer 1

Answer:

Innovators, Early Adopters, Early Majority, Late Majority, Late Mass

Explanation:

The adoption (diffusion) of innovation follows an S curve, with regards to time. It has following ranked consumer categories

• Innovators : Innovators, technologists, who have created & developed the product
• Early Adopters : Who are the visionaries of the product market expansion
• Early Majority : The pragmatists, who collect & distribute the product, give its critique
• Late Majority : The conservatives, who join the product market based on proper speculative analysis
• Late Mass : The most inactive, late market joiners, who joined late because they are sceptics (were sceptical).