Consumer Analysis

CONSUMER ANALYSIS

OVERVIEW: Those who take advantage of iStep will be that of many social-consumer categories. A classification of individuals who spend posthaste, watch and buy, analyze and follow or lag and catch up. However, abiding by the laws of Viral Marketing and Pareto’s Optimization, iStep can easily hit its Tipping Point by capitalizing on twenty percent of a few specific participants. The following diagram below takes a closer look at those involved, from quickest to slowest, who will help fuel a social meteoric growth.

Social Diffusion Diagram

Innovator

• • • • Visionary Spends Posthaste Quickly Reacts Carries The Matches To Light The Fire

Early Adopter

• • • • Visionary Requires Change Risk Taker Needs To Set Themselves Apart

Late Majority

• • • • Slow To Change Pragmatist Must Be Necessary Not Very Concerned With Style or Trend

Early Majority

• • • • Analytical Individualizing Slower To React Slightly More Conservative

HOW THE PROCESS WORKS:

The cycle starts off with the loyal handful who complete the program and are immediately affected by it. They are known as the Innovators. The true risk takers and quintessential salesmen of their time. And as a result of making the first move in the market, the ball begins to roll and others commence to take notice. The consumer spending cycle now shifts from the Innovators to the Early Adopters of technology. During this transition, these risk takers see what the Innovators have and grab the opportunity to adopt it and make it there own. These people make the product more palatable to mainstream consumers and really do an outstanding job of advertising its strong points. By doing so, they naturally attract the attention of the 80% who are responsible for turning a new and unnoticed well written novel into a New York Times bestseller. This classification of heros is further known as the Early Majority. Those who are, undoubtedly, slow to react, but quick to help augment. The...