of consumers on the basis of their degree of readiness
to try a new product. Market researchers have identified five categories that exist in every market segment
. Starting with those with the highest readiness to try, they are (1) Innovators: venturesome people and risk takers who are the very first users; comprising about 2.5 percent
of the target market
, (2) Early adopters: prestige oriented opinion leaders
, about 13.5 percent of the target market, (3) Early majority: the leading segment
of the mass market
, about 34 percent of the target market, (4) Late majority: followers of the early majority
, also about 36 percent of the target market, (5) Laggards: conservative, price conscious
segment, about 14 percent of the target market.
See also 'adoption process' and 'diffusion of innovation.'