Innovators, Early Adopters, Early Majority, Late Majority, and Laggards Are

question 92

Multiple Choice

Innovators, early adopters, early majority, late majority, and laggards are all ________.

• A) adopter categories
• B) diffusion stages
• C) communications theories
• D) marketing strategies
• E) innovation strategies

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Definitions:

Economies of Scale

The financial benefits gained by businesses as a result of their operation size, wherein the expense for each unit produced typically drops as the scale expands.

Average Total Costs

The total cost of production divided by the quantity of output produced; it includes both fixed and variable costs.

Economies of Scale

Refers to the cost advantage that arises with increased output of a product, where the average cost per unit decreases as production scales up.

Diseconomies of Scale

The phenomenon where a company's production costs increase as it produces more, resulting in a decrease in efficiency.