Some Consumers Are Hesitant to Try New Products

question 69

Multiple Choice

Some consumers are hesitant to try new products. In general, they are risk averse, so they only buy new technology after it has been well established, and often after facing peer pressure from others. These consumers tend to be older as well. These customers would tend to fall into the ______ category of the diffusion process.

• A) late majority
• B) innovator
• C) early majority
• D) early adopter

Identify and calculate the components of a flexible budget, including direct materials, wages, expenses, and revenues.

Evaluate the performance of a business using flexible budget analysis.

Understand the process of budgeting for administrative and selling expenses.

Analyze the impact of production volume on budgeted costs and revenues.

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Definitions:

Instrumentality

in the context of motivation, refers to the perceived likelihood that performance will be followed by a particular outcome.

Valence

The perceived value an individual places on the rewards of an outcome in decision making or motivation.

Gain-Sharing

A compensation strategy where employees receive financial rewards based on performance improvements or cost savings achieved by their efforts.

Organizational Performance

A measure of how efficiently and effectively a company reaches its goals and satisfies its stakeholders' expectations.