Hybrid cars are now being bought by the early majority.
The Product Diffusion Curve is a useful model that helps you think about who you should be targeting at different stages of the life of your product or service.
With an understanding of the Product Diffusion Curve, you can target your marketing efforts intelligently, getting the best returns from your effort. More than this, you can maximize the chances of success for your product, for example, by pinpointing the most influential target clients right at the start of your marketing effort.
The Product Diffusion Curve model uses a bell-shaped curve or an s-shaped curve to show the stages in which a successful product is adopted by people within your market.
The curve is shown below:
People within the market are represented depending on how quickly they accept and purchase new products. Some welcome novelty, adopting new products as soon as they come to market. Others only purchase new products only when it becomes the last resort.
According to the model, five different groups of people will purchase your product at different stages of the product's life:
The Mind Tools Club gives you much, much more than you get here on the basic Mind Tools site, including these 4 free workbooks.
And if you join before midnight on June 27, we'll also give you our Motivate Your Team workbook.
Learn how to motivate your team effectively with our Motivate Your Team workbook! This is FREE when you join the Mind Tools Club before midnight, June 27th.
Learn on the move with the free Mind Tools iPhone, iPad and Android Apps. Short bursts of business training ideal for busy people.