Usually, innovative high-tech products have low price elasticity. This means that high variation in price, an increase as well as a decrease, does not significantly modify demand. These high-tech products have few substitutes, meaning that the costs to switch to another product are high. Additionally, at the first stage of the technology, buyers ─ either innovators or forerunners ─ are less sensitive to price than to additional performance; they often have deep pockets or are ready to spend a lot for a new innovative and outstanding product. For instance, with its new product range, a high-end mobile phone manufacturer is aiming at the 3% of millionaire households with assets of more than $2.5 million; those are customers who are ready to accept the price range the manufacturer has set. At that stage, the competitors are not interested in lowering their price significantly whatsoever, because they are chasing the same categories of customers, not sensitive to price. Furthermore, the high price of these products is often perceived as a sign of quality and reinforces a customer's confidence in the company.