Answer to Question #255693 in Marketing for Sihle

Question

Discuss the categories of adopters as part of the consideration for the marketers in your business as they prepare for bringing CBD oils products into South Africa market.

Answer 1

Innovators seek change and they are the first one to buy a new product. This people are perfect target for a new product.

Early adopters- have higher social status, financial liquidity, education. They use a product during its late introduction phase of its life cycle. The marketers should target them because they are prestigious, they are likely to buy the product.

Early Majority- Early Majority have above average social status and are not opinion leaders. They come into picture during the growth phase of the product. They are important because they are a third of the target market.

Late majority- they are about 36 percent of the target market. They try the product in its late growth and maturity phase. They have an average social status and little financial liquidity. They are a good market share for a late growth.

Laggards- They are oldest and most traditional. They show their willingness to use the product in its late maturity phase and diminishing phase.