From the course: Growth Marketing Foundations

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Technology adoption life cycle

Technology adoption life cycle

From the course: Growth Marketing Foundations

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Technology adoption life cycle

- Just as your product goes through a life cycle, so does your consumer. The technology adoption life cycle model describes the adoption or acceptance of a new product broken down by the demographics and psychological traits of adopter groups. Essentially, different types of people use your product at each of its different stages. Now, this model looks very similar to that of our product lifecycle in that it's a bell curve, and it shows the types of groups that will use your product over time in line with that of your product life cycle. At launch, you'll be attracting innovators followed by early adopters, the early majority, late majority, and then the laggards. Innovators are the very first customers to try a product. They're willing to take risks. Early adopters tend to be thought leaders, have financial liquidity and higher levels of education. The early majority is more risk averse and tend to be conservative with…

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