Innovators are eager to try new ideas and products, almost as an obsession because they are well educated, they are more likely to get their information from scientific sources and experts.
Innovators are risk-taking customers and they seek changes. They are the first to buy a new product. Innovators try the product in the initial introduction phase of its life cycle before any other customer buys.
Innovators have high-risk tolerance that allows them to take risks on new technologies or products that may fail eventually. But their high financial liquidity helps them in absorbing these failures. Innovators are the first set of customers in the adopter categories as a part of the diffusion of innovation theory.
They are followed by early adopters, early majority, late majority and then laggards at the end.
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