Late Majority


DEFINITION of 'Late Majority'

The last sizable segment of a population to adopt an innovative technology. The late majority accounts for roughly 34% of the population, and will adopt a new product only after seeing that the majority of the population already has. People in this segment are typically older, less affluent and less educated than segments that more readily adopt innovating products.

BREAKING DOWN 'Late Majority'

Populations in innovation adoption are broken into five primary segments: innovators (the first to adopt an innovation), early adopters, early majority, late majority and laggards. Companies evaluate how their products will fare by taking into account the time it will take for more than 50% of the market to adopt a new product. It may take a long time for the majority to adopt groundbreaking products.

  1. Early Adopter

    An individual or business who uses a new product or technology ...
  2. Early Majority

    The first sizable segment of a population to adopt an innovative ...
  3. Proprietary Technology

    A process, tool, system or similar item that is the property ...
  4. Research And Development - R&D

    Investigative activities that a business chooses to conduct with ...
  5. Development Stage

    A company that is in a preliminary or early state of its corporate ...
  6. Patent

    A government license that gives the holder exclusive rights to ...
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