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Marketers Classify Innovations into Three Categories Based on Their Degree

question 96

Essay

Marketers classify innovations into three categories based on their degree of newness. Explain these categories, identifying the role the consumer has in each.


Definitions:

Accounts Payable Period

The average number of days it takes for a company to pay its invoices from suppliers and creditors.

Cash Disbursements

The total amount of money that a company pays out in cash during a specific period.

Accounts Receivable Balance

The sum of money that customers owe to a business for products or services they have received but have not yet paid for.

Quarterly Sales

The total revenue generated by a business during a specific quarter of the fiscal year.

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