If you select this question, provide a thoughtful 250+ word response to all of the questions below (250 words total, not for each section). Also, remember to comment on some of these in order to meet the participation requirement for the week. Finally, please separate your answers by the parts of the question. It makes it easier to see your specific response to each part. DQ1 – How Novel? Briefly explain, in your own words, the types of consumers and when they adopt new product (from Exhibit 12.2 in your text). For each type of customer, explain a product that is targeted towards each type of consumer. What typical category do you fall into? Please explain your answer. https://media.cheggcdn.com/media%2F606%2F606b69ce-2202-4412-8da6-90e227950e53%2Fimage XHIBIT 12.2 Diffusion of Innovation Cunve Innovators Early Laggards 16% 2.5% adopters majority majority 13.5% 34% 34% Time of adoption of the innovation Saurce Adapted fom Everet M. Rodgers, Diffision of Innovation (New Yor Press, 1983).

There are five types of customes as per the above picture- Innovators, Early adopeters, Early majority, Late majority and laggards.
Innovators: are those who always go for new products and services in the market at their initial and introduction stage only. They do not go with repetitive products and services. The new products like Mobiles, and other electronic gadgets
Early adopters: Whenver new products and services enter into the market, these people study them and buy those which suitable to them. Products
* The difference between these two are- Innovators search for products, where as Early adopters analyse the products which comes to them/comes to market.*
Early majority: Once the Early adopters selected some products, the early majority people followed them and buy products and services.
Late majority: Once the product got success talk in the market, these people go and buy the products. They only buy the products which are more succesful in the market, the news from reliable sources only.
Laggards: these are the people, who go with the products when they shade out of the market, and majority of the early customers looks for new products.
I belongs to early majority category, because i always prefer to follow my friends who belongs to first and second categories. I simply believe in their words and follow the trend.
 
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