Identify and briefly describe the five innovation adoption segments in the population

Question

What will be an ideal response?

Answer 1

The five innovation adoption segments are innovators, early adopters, early majority, late majority, and laggards. Early adopters account for only a small portion of the population, but they are the most willing to adopt an innovation. They tend to be younger, better educated, and wealthier than consumers in other adoption segments. The early adopters are media savvy and socially aware. The early majority makes up about one-third of the population. Consumers in this group adopt a new product after early adopters. When the early majority has adopted a product, that product has become mainstream. The late majority also makes up one-third of the population, but this segment is older and more conservative. Consumers in this group purchase innovations they consider to be necessities. The last group is the laggards, who are the last to adopt an innovation. These consumers are heavily bound by tradition.