They are already aware of the need to change and so are very comfortable

They are already aware of the need to change and so

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roles, and embrace change opportunities. They are already aware of the need to change and so are very comfortable adopting new ideas. In the product life cycle, the Growth stage deals with increase in sales, which is almost similar to early adopter. Early Majority - These people are rarely leaders, but they do adopt new ideas before the average person. Strategies to appeal to this population include success stories and evidence of the innovation's effectiveness. This speaks the same with Maturity stage where both reaches a point of saturation. On this Maturity Stage, the manufacturer is maintaining the market share they have built up.
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Late Majority - These people are skeptical of change, and will only adopt an innovation after it has been tried by the majority. In relation to product life cycle, this becomes the decline stage were the product will start to shrink; this can be a result of consumers switching to a different type of product. Laggards - These people are bound by tradition and very conservative. They are very skeptical of change and are the hardest group to bring on board. Strategies to appeal to this population include statistics, fear appeals, and pressure. By knowing what phase of the lifecycle we are in, we have identified the general corporate strategy. We can now also identify the prevailing customer group, as defined by the Diffusion Innovation model. 354 words References LaMorte, W. (2018, August 29). Diffusion of Innovation Theory. Retrieved from. - Modules/SB/BehavioralChangeTheories/BehavioralChangeTheories4.html Tanner, J. & Raymond, M.A. (2015). Principles of Marketing . University of Minnesota Open Textbook Library. Licensed under a Creative Commons by-nc-sa. Read online at:
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