What is Innovation Adoption Curve
Definition: The innovation adoption curve classifies the entry of users into various categories, based on their willingness to accept new technology or an idea. It is useful in breaking down or segregating consumers into five different segments or categories such as innovators, early adopters, early majority, late majority, and laggards.
Description: The innovation adoption curve follows a bell-shaped curve, which can be divided into five different categories. Let's discuss each one of them in detail. Usually, the innovators are the first ones to adopt the new idea or the technology. They consist of a small percentage of the population, almost 2.5 per cent. They are the ones who are young and willing to take risks about the new technology.
The next ones are early adopters. Early adopters consist of almost 13.5 per cent. One characteristic which differentiates this group from the others is that they have a high degree of leadership or influencing power. They are also young individuals who are willing to take that extra risk.
The third category of individuals who adopt an innovation is Early Majority (34%). The only difference is that here the time of adoption is slightly longer, but the percentage is higher than innovators and early adopters. They have an above-average social status, and accept change more quickly than the average.
The fourth category of is Late Majority (34%). The individuals in this category take a lot of time to adopt new technology. They are the ones who will do research because they are sceptical of innovation. They adopt the new technology because of peer pressure.
Laggards is the fifty category of individuals who adopt an innovation. They are reluctant to any change. By the time laggards adopt the new technology it might have already become obsolete. They are fixated on past methods or technology for their daily usage.
Description: The innovation adoption curve follows a bell-shaped curve, which can be divided into five different categories. Let's discuss each one of them in detail. Usually, the innovators are the first ones to adopt the new idea or the technology. They consist of a small percentage of the population, almost 2.5 per cent. They are the ones who are young and willing to take risks about the new technology.
The next ones are early adopters. Early adopters consist of almost 13.5 per cent. One characteristic which differentiates this group from the others is that they have a high degree of leadership or influencing power. They are also young individuals who are willing to take that extra risk.
The third category of individuals who adopt an innovation is Early Majority (34%). The only difference is that here the time of adoption is slightly longer, but the percentage is higher than innovators and early adopters. They have an above-average social status, and accept change more quickly than the average.
The fourth category of is Late Majority (34%). The individuals in this category take a lot of time to adopt new technology. They are the ones who will do research because they are sceptical of innovation. They adopt the new technology because of peer pressure.
Laggards is the fifty category of individuals who adopt an innovation. They are reluctant to any change. By the time laggards adopt the new technology it might have already become obsolete. They are fixated on past methods or technology for their daily usage.