The adoption curve is the journey that consumers or a market take when adopting a new product or technology. At the individual level, each consumer must first become aware of and knowledgeable about the product, then move into an emotional state where they like and prefer it before finally deciding to purchase it. Product development teams need to keep this in mind when creating new products, as they need to make sure that their product appeals to all stages of the adoption curve. By doing so, they can maximise the number of people who adopt their product or technology.
The adoption curve is a graphical representation of how consumers adopt a product over time. The adopters can be divided into five groups: innovators, early adopters, early majority, late majority, and laggards. The innovators are the first to adopt a new product and make up 2.5% of the market. Early adopters are next, comprising 13.5% of the market. The early majority follows, accounting for 34% of the market. The late majority is next, representing 34% of the market. Finally, the laggards adopt last and make up 16% of the market. An adoption curve is a useful tool for product development teams. It helps them understand how a product will be received by consumers and plan their marketing efforts accordingly.