Effectivecommunication means effective marketing. Buyers perceptions of market offerings are influenced by the amount and type of information they receive as well as their reaction to that information. There must be a good flow of information between seller and buyer to assist decision-making that precedes a
purchase. An effective marketing communications system also allows feedback from the consumer to the seller.
Some people have a psychological predisposition to buy products and services that are 'new' to the market. This predisposition can be modelled with the use of a normal distribution. Certain people derive a great deal of pleasure from acquiring new products and being first in the market. Such people have a low level of perceived risk and in fact they positively like the risk and excitement associated with the purchase of new, innovative products. These people are referred to as 'innovators and, according to Everett Rogers account for about 2.5% of the population, this was explored early in the chapter 1.3.3.
The next group of people displaying a tendency to buy new products are known as early adopters and account for approximately 13.5% of the market. These are still highly adventurous purchasers and the possession of innovative new products gives them a high present value. They still have a low level of perceived risk but are slightly more risk adversethan the 'innovator category. The next two groups, Early Majority and Late Majority account for the bulk of the potential market, 6.4% in all. Most people fall in to one of these categories. Finally the 'Laggards are people who are not really infested in new product development and tend to purchase products only when their old product is worn out and stops workingA key question for the marketing communicator is Are the innovators and early adopters also opinion leaders? The majority of potential customers are too risk adverse or too disinterested to be first in the market for an innovation. They are largely unaffected by the media communication about the innovation. Instead, they are influenced by people that they know who they regard as opinion leaders. Although some individuals may be innovators for many products and services, it is more likely that they will be classified as such for a limited range of products. For example a computer enthusiast may be regarded as an innovator for new computer products. Similarly, someone who is interested in photography may be regarded as opinion leaders in relation to this product but not others.