21 Jun HOW MIGHT THIS DIFFER IN A GLOBAL MARKET?
Read the following article regarding diffusion of innovation: http://www.tojet.net/articles/v5i2/523.pdf. In this theoretical, scholarly article, Rogers (2003) explains the Öve adopter categories: Innovators: Purchase newer products (e.g., electronics) quickly (Örst 2.5% that purchase new product); have higher incomes; are more worldly, more selfconÖdent, and more educated Early Adopters: Purchase early as well, accounting for 13.5%; are oriented to local community as opposed to worldly, like innovators; are opinion leaders and more respectful of others Early Majority: The next 34% to purchase new products; evaluate pros and cons of product prior to purchase; are open to opinion of others when evaluating product, unlike early adopters who themselves offer the opinions Late Majority: The next 34% to purchase product; persuaded to purchase if someone else has already purchased product within their circle of in×uence (such as friends); are typically older and have lower education and income levels; depend on word-of-mouth communication rather than mass media because of high degree of skepticism Laggards: Final 16% to buy; do not rely on group norms; usually purchase product when it has been outdated; have the lowest socioeconomic status Decide how this information aids marketers in creating various strategies for new and old products. How might this differ in a global market? Think about promotional activities, advertising, etc. when sharing your response to the article. Then determine a category you may fall into that involves certain products. Describe what actions you’d take based on the information you have received (e.g., an announcement of the product, word-of-mouth information about the product, etc.) when purchasing these products. AT LEAST TWO PARAGRAPHS REQUIRED. APA REQ
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