Chapter 7: Part 3 Flashcards
Guerrilla marketing
marketing with a limited budget utilizing unconventional strategies
Guerrilla marketing is about
making an “intense connection with individuals and speed[ing] up the natural word-of-mouth process”
Concerned about guerrilla tactics like
(a) consumer, (b) ethical, (c) legal issues with stealth or covert marketing efforts
Innovation
an idea, practice, or product perceived to be new by the relevant individual or group
Adopter categories
divides adopters of any given innovation into five groups based on the relative time at which they adopt
Innovators
first 2.5% to adopt an innovation
Early adopters
next 13.5% to adopt
Early majority
next 34% to adopt
Late majority
next 34% to adopt
Laggards
final 16% to adopt
Innovators definition
venturesome risk-takers, capable of absorbing the financial and social costs of adopting an unsuccessful product
Early adopters definition
tend to be opinion leaders in local reference groups, they are successful/well educated/somewhat younger than their peers, willing to take a calculated risk on innovation but are concerned with the failure
Early majority definition
tend to be cautious about innovations, adopt sooner than most of their social group after the innovation is proven to be successful
Late majority definition
skeptical about innovations, often adopt more in response to social pressures or decreased availability of the previous product than because of a positive evaluation of the innovation, tend to be older and have less social status/mobility than early adopters
Laggards definition
locally oriented and engage in limit social interaction, tend to be relatively dogmatic and oriented towards past, adopt innovations only with reluctance
