Late Majority - the large, conservative group in a community slower than all except the "laggards" to adopt a new product. See Diffusion of Innovation; Early Adopters; Early Majority; Innovators; Laggards.
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4. Late Majority make up another 34% of sales and usually purchase the product at the late stages of majority within the life cycle.
See Diffusion of Innovation; Early Majority; Innovators; Laggards; Late Majority.
Target Market: The overall market is still growing in terms of sales volume, especially as the product spreads to the Late Majority. But there is some evidence that while sales are increasing it is occurring at a decreasing rate.
the group in a market who are more deliberate than the innovators and the early adopters in making purchase decisions, but less conservative than the late majority and laggards, see diffusion of innovation, early adopters, innovators, laggards, ...
diffusion of innovation The spread of innovation with a market group in stages--innovators (2- 5%), early adopters (10-15%), early majority (next 35%), late majority(next 35%), ...
Early majority - Those who adopt just before the ‘average’ person.
Late majority - Those who eventually adopt through economic necessity or social pressure.
Laggards - Those who are last to adopt a new product or service.
The consumer marketplace is segmented into four groups: innovators (2.5% of population), early adopters (13.5%), early majority (34%), late majority (34%), and laggards (16%).
that customers first enter a market at different times, depending on their attitude to innovation and new products, and their willingness to take risks. Customers can thus be classified as innovators, early adopters, early majority, late majority and ...
 See also: Market, Marketing, Product, Purchase, Early Majority
  
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