Late Majority

AAA

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.

INVESTOPEDIA EXPLAINS '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.

RELATED TERMS
  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. Research And Development - R&D

    Investigative activities that a business chooses to conduct with ...
  4. Patent

    A government license that gives the holder exclusive rights to ...
  5. Development Stage

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

    A process, tool, system or similar item that is the property ...
Related Articles
  1. Patents Are Assets, So Learn How To ...
    Investing Basics

    Patents Are Assets, So Learn How To ...

  2. New Year Planning For Business Owners
    Entrepreneurship

    New Year Planning For Business Owners

  3. R&D Spending And Profitability: What's ...
    Investing

    R&D Spending And Profitability: What's ...

  4. Which Is Better: Dominance Or Innovation?
    Active Trading

    Which Is Better: Dominance Or Innovation?

comments powered by Disqus
Hot Definitions
  1. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  2. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  3. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  4. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  5. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  6. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
Trading Center