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Early Majority

What does Early Majority mean ?

The term Early Majority or “early majority” comes from the diffusion theory of Evertt Rogers. Rogers found that there are five groups within the population that adopt innovations at different rates. The early majority plays the role of “the first big wave of buyers”. The five groups and their share of the population are:

  • Innovators – 2.5 percent
  • The early adaptors – 13.5 percent
  • The early majority – 34 percent
  • The late majority – 34 percent
  • Laggards – 16 percent

Example

The early majority could be identified in an exemplary manner with the very first iPhone. This came onto the market in January 2007 for 600 US dollars. Here Apple targeted the innovators. Two months later, the price was reduced by 200 US dollars. Now the early adopters were buying. In June 2009, the price was lowered again, even though the second successor model was ready for the market in the meantime. An exciting phenomenon emerged. The early majority bought the first iPhone in June 2009 in a big way. A short time later, however, many of them switched directly to younger models that were more powerful.

Characteristics of the Early Majority

The following characteristics distinguish the early majority:

  • It is generally open to innovation.
  • However, it is afraid to invest money on immature products.
  • They draw heavily on the experiences of innovators and especially early adopters to form their opinions.
  • Personal recommendations are extremely important to them.
  • Once convinced of a new product, they place their trust in it. The former reluctance to buy no longer occurs.
  • However, the early majority buys product updates strongly based on need. They want to be sure that their new purchase brings real added value.
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Skillfully addressing the early majority

Particularly in the IT sector, it has been shown that the early majority responds positively to the specification of product cycles. They consider such information to be a reliable promise of quality. For example, they react positively to the assurance that software support is guaranteed for at least X years. However, it reacts negatively to broken promises in this area. Those who cannot stand by their word as a company run a serious risk of losing the early majority.

Finally, a small quote on the central role of the early majority. The specialist portal “InsvestingAnswers” expresses it pointedly as follows: “It brings in the profits! https://investinganswers.com/

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