Laggards

Definition

Laggards are the last group of consumers to adopt a new product or innovation. They tend to resist change and prefer traditional methods, often waiting until the majority has accepted the product before they make a move. This reluctance to embrace new ideas can be attributed to various factors, including skepticism about new technology, limited resources, or simply comfort with established routines.

5 Must Know Facts For Your Next Test

1. Laggards make up approximately 16% of the total market and are often characterized by their skepticism toward new products.
2. This group tends to rely heavily on word-of-mouth recommendations from friends or family rather than marketing messages.
3. Laggards may only adopt a product when it has become widely accepted and proven its reliability in the market.
4. Financial constraints or lack of access to information can also contribute to laggards' reluctance to adopt new innovations.
5. Marketers typically find it challenging to reach laggards since they are less likely to engage with promotional content and prefer conventional methods.

Review Questions

• How do laggards differ from early adopters in their approach to new products?
  • Laggards are fundamentally different from early adopters in their willingness to embrace new products. While early adopters are quick to try innovations and influence others in their social circles, laggards exhibit a cautious attitude, often waiting until a product is widely accepted before considering its adoption. This contrast highlights the varying motivations and behaviors across different consumer segments in the product adoption process.
• What strategies can marketers use to effectively reach laggards in the product adoption cycle?
  • To effectively reach laggards, marketers should focus on building trust and demonstrating the value of their products. Utilizing testimonials and word-of-mouth marketing can be effective since laggards tend to rely on recommendations from friends and family. Additionally, offering incentives or promotions can help reduce perceived risks associated with trying something new. Marketers may also consider emphasizing the reliability and proven success of a product rather than highlighting innovative features that might intimidate this group.
• Evaluate the role of laggards within the overall product life cycle and discuss their impact on market trends.
  • Laggards play a crucial role in the overall product life cycle by providing insight into consumer behavior and market trends. As the final segment to adopt a product, they can significantly influence long-term sales and brand loyalty once they come onboard. Their eventual acceptance can signal that a product has reached maturity, while their resistance may indicate potential barriers for future innovations. By understanding laggards' hesitations, companies can adapt their strategies to encourage broader acceptance across all consumer segments.

Related terms

innovators: Innovators are the first group of adopters who are eager to try new products and technologies, often taking risks and seeking out the latest trends.

early adopters:

Early adopters are individuals who embrace new products shortly after innovators, serving as influencers and helping to spread awareness and acceptance among others.

product adoption curve: The product adoption curve is a model that describes the stages consumers go through when adopting a new product, ranging from innovators to laggards.