Laggards

Written by Fmi.Online Friday January 6, 2023
A common business trend within innovative companies is a continuous development of new products or updates for those that are already in the market. Customers react differently depending on a set of predispositions, behaviors, criteria, personal background, age, gender, profession and other demographic elements that have shaped their view about new things.

Explanation :

A laggard, from a marketing and consumer behavior standpoint, is a person that adopts these newly developed elements later than the rest of the population. Their behavior is often affected by a reluctance to change old habits and it is a common pattern seen in elderly individuals. Companies have many different strategies to push this segment towards a change, by reducing the benefits of older versions, limiting their ability to fit new available needs and also, by creating an environment of constant exposure to the positive attributes of the newer versions. Other strategies like spare part’s supply shrinkage and limited technical support are also strong incentives employed to help laggards move forward.

In a nutshell :

  • A laggard underperformed its benchmark, in terms of an investment's returns.
  • If an investor holds laggards in their portfolio, these are generally the first candidates for selling.
  • Investors may mistake a laggard for a bargain, but these will carry excess risk.
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