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Unformatted text preview:costly. Many products still fail here. Innovators First to adopt. Very Important. Highly involved in the product category, knowledgeable. Beta testers Early Adaptors Second to adopt. Respect of others in important. Opinion leaders. Want because of the newness status Early Majority Deliberate. Weigh pros & cons. Rely on group information (hear from early adaptors) show someone else using the product Late Majority Skepticism. Everyone else already has it. "9 out of 10..." Awards, Endorsements Laggards Value Tradition. Don't bother with 5 Characteristics used to predict the rate of acceptance-Complexity -Compatibility -Relative Advantage - Observability - Trialability Product Life Cycle Introduction (Low sales, No Profit) Growth (exponential inc of sales, little profit) Maturity (Sales Plateau, profits stabilize) Decline (decrease in sales & profit)