Entering the Market

Once you've used the Product Strategy Framework to evaluate your product, you still need to consider how you will launch your product and enter the market.

As you can see from the graph, we can divide consumers into different stages of product adoption. 

The only thing Innovators care about is being first. They don't mind taking a risk, and don't particularly care about solving a problem or getting any benefits; these are the consumers that stand in line for days just to be the first ones to get their hands on a product. They were the very first people you know to use TikTok, to buy Google Glasses, and buy a Tesla. 

Early Adopters are still willing to put up with a product that isn't fully refined, but they will expect some benefits from the product. They've likely researched the product and are reasonably confident that it has the potential to fill their need.

Next up is the Early Majority. They're less concerned with being early to the scene, and instead are looking for a functional product. As a result, they're more likely to buy a product after it has already gained significant momentum.

Finally, the Late Majority are warier when it comes to new and innovative products. They purchase after the average person has and look for tried and tested products. They're more likely to wait for price drops, and won't tolerate any defects or bugs.

When product managers look at the adoption curve, it might look like it makes more sense to try and skip ahead and focus on the early/late majority. After all, that's where the most money is. However, these are also the toughest crowds to sell to. 

The solution is to follow the curve, building first of all for the innovators, then the early adopters. Early adopters are sometimes referred to as "lighthouse customers," acting as a signal to other consumers. Your innovators will carry you forward, and your early adopters will set the path for the majority to follow. 

Tesla is a prime example of how this works. The Tesla Roadster was made for the innovators. It cost $150,000, was delayed a year, had half the mileage of later models, yet it still sold out. This gave them enough leverage to move forward and build their brand. The next version was an improved model, but there were still issues, such as concerns over the reach of the charging network. This didn't stop early adopters from picking it up though. Now they're serving the early/late majority market, providing a top service with a cheaper price tag.  ​

For the tech industry, the curve looks a little different.

The rate of adoption is much faster when your product is an app. Thanks to the minimal distribution cost, anyone can get in the app store — practically overnight — compared to the years it can take to get your physical product into stores. 

It isn't all good news though. You can lose your customers just as fast, and yesterday's number one app can be quickly replaced. To succeed, you must keep innovating. That's why companies like Facebook are constantly adding new features and revamping their design.