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Which customer segment dominates the market growth stage of the industry life cycle

A. Early adopters
B. Laggards
C. Technology enthusiasts
D. The late majority

1 Answer

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Final answer:

The early majority is the customer segment that dominates the market growth stage of the industry life cycle, according to the Technology Adoption Lifecycle.

Step-by-step explanation:

In the market growth stage of the industry life cycle, the customer segment that dominates is the early majority. According to the Technology Adoption Lifecycle developed by sociologist Everett Rogers, the early majority represents the largest group of consumers who adopt a new innovation. These consumers are typically cautious and wait for the technology to become more mainstream before adopting it.

For example, when a new technology is introduced in the market, the early adopters are the first ones to try it out. As the technology gains popularity and becomes more accessible, it attracts the attention of the early majority, who are influenced by the positive feedback and experiences of the early adopters. The late majority represents the customer segment that adopts the technology after it has become well-established and widely used. They tend to be more skeptical and wait until the technology is proven and trusted by the majority before adopting it.

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