An Early adopter is someone who is one of the first to buy the product when introducing a new product. Early adopters are fans of the brand and are willing to buy it for a premium price.
The term early adopter comes from the product lifecycle model. The early adopters are very important for the successful launch of a product. You need people who are willing to buy a product whose utility or success is often not proven yet. For example, consider a Blu-ray player. The early adopters have to wait and see if all films will actually be released on Blu-ray. Therefore, early adopters often become product evangelists of the brand. They are so enthusiastic that they want the product to succeed and to promote it through word of mouth.
7S model McKinsey29-03-20139 mins read
BCG Matrix25-03-20197 mins read
Balanced Scorecard25-03-20194 mins read
Socio-cultural factors14-01-20142 mins read