Principle 3: Target the Right Group

Panos Mourdoukoutas () and George J. Siomkos ()
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Panos Mourdoukoutas: Long Island University
George J. Siomkos: Athens University of Economics & Business

Chapter Chapter 4 in The Seven Principles of WOM and Buzz Marketing, 2009, pp 27-39 from Springer

Abstract: Abstract Patricia and John represent a special breed of consumers, the early adopters. They are people within target markets, who are always in search for something new and different that adds value to their lives; and are willing to take the risk for adopting it. Their stories underline the Third Principle of consumer epidemics: Select the market segments most interested in your product. Then, within each segment, target early adopters, people who tend to be opinion leaders in local reference groups – successful, well educated, somewhat younger than their peers, well socially integrated, willing to take a calculated risk on an innovation but who are concerned with failure. Early adopters also use commercial, professional, and interpersonal information sources, and they provide information to a larger group of consumers, the early majority. As the innovation gains acceptance, shift focus to the early and the late majority. As discussed in the previous chapters, products that become epidemics are innovative; they add consumer value vis-a-vis existing products, to the target market groups; and they stir up emotions. Even within these groups, innovations do not appeal equally to all consumers, however. Some consumer categories are more susceptible to new products, because they are curious by nature, always on the look-out for something new, something different to excite their lives. Others are more susceptible to new products because they can better understand the advantages of innovations vis-à-vis existing products, and are willing to assume the various risks associated with the innovation adoption. A third category is comprised of consumers who are less susceptible to new products because they are pragmatists, they are looking for proof that the new product is better than the one they already use. A fourth group is less susceptible to new products either because the consumers in it lack curiosity or because they feel fully content with their lives, and therefore, they are the wrong marketing target.

Keywords: Product Category; Opinion Leader; Early Adopter; Consumer Group; Marketing Campaign (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/978-3-642-02109-1_4

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