Start-ups may face several challenges when trying to cross the chasm between early adopters and the mainstream market. Firstly, the two markets have different customer profiles and purchasing behaviors, which may require a shift in marketing strategies. Secondly, the mainstream market is often more risk-averse and less willing to adopt new technologies compared to early adopters. This can make it difficult for start-ups to gain traction in the mainstream market. Lastly, if a start-up loses momentum before crossing the chasm, it may struggle to recover and achieve market leadership.
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How can the most cutting-edge start-ups fail? Start-ups fall to their death in the deep chasm that separates early tech adopters and the pragmatic mai...
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To market a discontinuous innovation that demands a shift in consumer behavior, the customer's attitude to technology adoption becomes central. Since start-ups specialize in discontinuous innovations, the technology adoption life cycle model becomes central to marketing efforts. Technology is absorbed in a community in stages based on the demographic and psychological profiles of various segments. The technology adoption life cycle model, which is a sociological model that describes the adoption or acceptance of a new product or innovation, reflects this as a bell-curve with five segments: innovators, early adopters, early majority, late majority and laggards. The high-tech marketing model focuses on moving segment by segment from innovators to early adopters. At each stage, marketers must tailor their approach to the segment's unique psychographics. Done right, it can lead a start-up to technology leadership and high-profit margins in a new market. If the start-up loses momentum befor...