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TECHNOLOGY ADOPTION LIFE CYCLE The technology adoption life cycle, introduced by communications professor Evere Rogers, is a model that describes the process of acceptance of a new innovation over time, according to defi ned adopter groups. Looking for more Introduction to Business content to share with your students? Visit sagepub.com/intro-business. As the fi rst to try a new product, people in this category are enthusiastic about new technology and willing to take the risk of product fl aws or uncertainties that may apply to early versions. Like innovators, these customers tend to buy new products shortly after they hit the market. However, unlike innovators, they are not motivated by their enthusiasm for new technology and prefer to consult reviews before they make a purchase. People in this category tend to take interest in a new product as it begins to have mass market appeal. They are both practical and extremely risk averse, preferring to wait and see how others view the technology before they buy it themselves. These customers are typically skeptical, pessimistic, risk averse, and less a uent than the previous groups. However, because this group makes up such a large portion of the life cycle, they cannot be ignored. People in this fi nal category are the last to adopt a new innovation, sometimes taking years after its release. They tend to have a negative a itude toward technology in general and have a strong aversion to risk and change. INNOVATORS 2.5% of customers EARLY ADOPTERS 13.5% of customers EARLY MAJORITY 34% of customers LATE MAJORITY 34% of customers LAGGARDS fi nal 16% of customers Enthusiasts Visionaries Pragmatists Conservatives Sceptics Time Source: Introduction to Business Heidi M. Neck, Ph.D. Christopher P. Neck, Ph. D. Emma L. Murray, BA, H. Dip

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