Adoption Curve in Product Management
The adoption curve is a model that represents the acceptance of a new product or technology over time among different categories of adopters. It is essential for product managers to understand where their product stands on this curve to strategize for growth, targeting, and product improvements.
For instance, when Apple releases a new iPhone, it closely monitors the adoption curve. Initially, Innovators and Early Adopters rush to purchase the latest model, driven by a desire to have the newest technology. As the product gains traction, Apple then focuses on attracting the Early and Late Majority by emphasizing reliability, user-friendliness, and value, adjusting its marketing and product development efforts accordingly.