According to the Diffusion of Innovation Theory, Buyers Belonging to the Early

question 56

Multiple Choice

According to the diffusion of innovation theory, buyers belonging to the early majority group are considered crucial because:

• A)they act as opinion leaders and spread the word to the next groups entering the market.
• B)they are regarded as highly knowledgeable and are not price sensitive.
• C)very few products or services can be profitable until this group buys them.
• D)they avoid change and rely on traditional products until they are available.
• E)they keep themselves very well informed about the product category.

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Definitions:

Internal Integration

The process of ensuring that various parts of an organization work together cohesively, sharing information and coordinating activities to achieve the organization's goals.

Market Culture

An organizational culture characterized by competitiveness, goal achievement, and a focus on results and productivity.

Measurable Goals

Objectives that can be quantified or assessed, typically involving specific targets and timelines to facilitate tracking progress and achievement.

External Adaptation

The process by which organizations or individuals adjust and respond to changes in the external environment to survive and thrive.