Technology Life Cycle

1066 Words5 Pages
All new technologies goes through a technology adoption life cycle in which certain market groups adopt the product before others are willing to do so. Here is each of the market groups: Innovators, early adopters, early majority, late majority, and laggards. Innovators in a general sense, is a person or an organization who is one of the first to introduce into reality something better than before. That often opens up a new area for others and achieves an innovation. They pursue new technology aggressively, learning about and evaluating new products in an effort to be first. They’re also relatively few in numbers—so for marketers, they represent a major key to the marketing campaign. Next down the list, early adopters are…show more content…
As it started to become standardized the late majority eventually fell into line. By the end of the 1980s it was pretty much the only standard program used for spreadsheets. There are several cracks in the technology adoption life cycle, from the innovators to the early adopters, from the early adopters to the early majority. But the latter happens to be the most challenging and an unrecognizable division chasm. The transition goes unnoticed because that in both groups the customer list and the size of the order can look relatively the same. The products that the early adopters buy, is some kind of change agent. Being the first in the industry gives a head start on the competition. When we move on to early majority they want to buy a productivity improvement for their current operations. Ultimately, they want evolution. This eventually leads to a catch-22. In a catch-22 situation the early adopters have already caught on and it has been publicized. In the end the product seems to never get past the early adopter group. When the promoters of high-tech products try to move on from their early adopters group, they leave the early majority without a reference and support. This chasm has made many marketers fail in the past. The early market is what the staff members interpret as sales of increasingly smooth curve, but in reality it is an initial blip
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