Question

Eco Cycle, an eco-friendly bicycle manufacturer has developed a new product known as Green Ride. Green Ride is a stationary bicycle for home use which generates power for electronics and household appliances, such as televisions, video game consoles, dishwashers, and washing machines. Given the recent shift toward sustainable living, renewable energy sources, and a focus on positively impacting climate change, Eco Cycle expects this product to do well in the market. While the company knows that all consumers follow a similar adoption process for products, not all consumers follow it at the same time. In one or more fully formed paragraphs, identify each of the five types of adopters and explain in detail the characteristics of each type of adopter for Eco Cycle and the Green Ride.

Answer 1

The five types of adopters for Eco Cycle and Green Ride are: innovators, early adopters, early majority, late majority, and laggards. Each type of adopter has different characteristics and a different timing in adopting new products.

Step-by-step explanation:

The five types of adopters are:

Innovators: Innovators are the first to adopt new products and are typically adventurous and willing to take risks. For Eco Cycle and Green Ride, these would be the early adopters who are excited about the eco-friendly features and the opportunity to generate their own power.

Early Adopters: Early adopters are opinion leaders who adopt new products shortly after the innovators. They are influential in spreading the word and are often well-connected individuals. These adopters for Green Ride would be eco-conscious individuals who see the value in sustainable living and want to be part of the movement.

Early Majority: The early majority are the pragmatic adopters who wait for a product to become more established before trying it. They rely on word-of-mouth recommendations and look for evidence of the product's effectiveness. For Eco Cycle, the early majority may be individuals who are curious about Green Ride but want to see positive reviews and testimonials before making a purchase.

Late Majority: The late majority are skeptics who adopt a product only after the majority of people have already adopted it. They are more resistant to change and tend to rely on traditional and well-established products. For Green Ride, the late majority may be individuals who have heard about the product but are hesitant to switch from their current exercise routine to a stationary bicycle.

Laggards: Laggards are the last to adopt a new product and often have limited exposure to information and technology. They may be resistant to change and prefer traditional methods. These adopters may not be the target market for Eco Cycle and Green Ride, as they may not be interested in or have access to the necessary technology.

Answer 2

Step-by-step explanation:

The Green Ride is an ecologically friendly bicycle product from Eco-Cycle. It is to be utilized at home to produce power for gadgets and family things in this way giving an inexhaustible wellspring of energy.

The milestone book " Diffusion of Innovations" by sociologist Everett Rogers in 1962 originally sorted the adopter types premise on specific attributes as recorded beneath:

1) Innovators: These arrangement of individuals receive new innovation or product as they are recently dispatched. This arrangement of individuals are prepared to face challenges and they are the boldest. For this situation, some corporates may get intrigued to evaluate the Green Ride alternative to perceive how it tends to be utilized to save cost on the force front.

2) Early Adopters: This arrangement of individuals make trends and need to see them on the ball, subsequently they will become the early adopters. For this situation, individuals who are lethargic towards open-air exercises will get their hands on this bicycle as it is locally (home) established and be the early adopter of this product.

3) Early Majority: These arrangements of individuals settle on choices dependent on utilities and the useful benefits of the product. For this situation, everyone who is worried about the use and benefits of Green Ride will get input from Early Adopters and can continue likewise.

4) Late Majority: This arrangement of individuals imparts a few qualities to the Early Majority set of individuals yet they are generally careful prior to submission. For this situation, youngsters may not get intrigued to utilize a bicycle which is kept to Indoors as it were.

5) Laggards: These arrangements of individuals are delayed to adjust to new innovation or product. They will in general embrace just when they are constrained. For this situation, the arrangement of individuals who are customary bicycle clients won't be prepared to acknowledge this new product except if compelled to do as such because of the limited development during circumstances such as the present.