The Technology Adoption Life Cycle - TALC
First of you must be thinking, 'what is the chasm?'. Well, the chasm is part of the Technology Adoption Lifecycle, made famous by Geoffery Moore. Making any sense? NO, ok..back to basics.
The Technology Adoption Lifecycle(TALC) aims to explain the adoption by business and individuals of high technology products, particularly those that represent a discontinuous innovation.
Innovators are people who like technology for technology's sake. They seek out
the newest products, and they are willing to use them even before they are
officially released to the market. In the Microcosm they include the beta testers
and the hackers. Companies often "seed" the innovators with free equipment.
Early Adopters also buy new products early, not for the thrill of using new
technology but because they feel that the new technology will give them and their
companies a head start over the rest of the world. Early adopters rely on the
innovators' opinions to make the purchasing decision.
Early Majority also relate well to new technology but they don't necessarily want
to be the first kid on the block to try a new toy. The early adopters are on the lookout for new products while the early majority has to be sold. If this sales effort is successful, it creates the Tornado because, once a certain percentage of early majority buys the product, they all want to buy it. The early majority cannot stand to be left behind. Ipods are in this area now.
Late Majority starts to buy when the product is well established., typically when
the product has penetrated roughly 50% of the market (you can't lose your job by
buying Windoze). All mums and Dads that were initially reluctant to get mobile phones.
Laggards don't want to buy technology, period. They buy when they have no other
choice.
The "Chasm" refers to the time lag between the early adopters and the early majority taking up the product. Many high tech companies have floundered in the chasm, just after volume starts to rise at the end of the early adoption phase. All too often, sales suddenly dry up if the early majority does not buy.
The Technology Adoption Lifecycle(TALC) aims to explain the adoption by business and individuals of high technology products, particularly those that represent a discontinuous innovation.
Innovators are people who like technology for technology's sake. They seek out
the newest products, and they are willing to use them even before they are
officially released to the market. In the Microcosm they include the beta testers
and the hackers. Companies often "seed" the innovators with free equipment.
Early Adopters also buy new products early, not for the thrill of using new
technology but because they feel that the new technology will give them and their
companies a head start over the rest of the world. Early adopters rely on the
innovators' opinions to make the purchasing decision.
Early Majority also relate well to new technology but they don't necessarily want
to be the first kid on the block to try a new toy. The early adopters are on the lookout for new products while the early majority has to be sold. If this sales effort is successful, it creates the Tornado because, once a certain percentage of early majority buys the product, they all want to buy it. The early majority cannot stand to be left behind. Ipods are in this area now.
Late Majority starts to buy when the product is well established., typically when
the product has penetrated roughly 50% of the market (you can't lose your job by
buying Windoze). All mums and Dads that were initially reluctant to get mobile phones.
Laggards don't want to buy technology, period. They buy when they have no other
choice.
The "Chasm" refers to the time lag between the early adopters and the early majority taking up the product. Many high tech companies have floundered in the chasm, just after volume starts to rise at the end of the early adoption phase. All too often, sales suddenly dry up if the early majority does not buy.
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