Marketers Classify Innovations in Three Main Ways: (1) the Degree

question 51

Multiple Choice

Marketers classify innovations in three main ways: (1) the degree of novelty, (2) the type of benefits offered, and (3) the:

• A) styles available.
• B) features affected.
• C) breadth of innovation.
• D) length of time to adoption.
• E) size of potential market.

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Definitions:

Exhaustible Resource

A natural resource that has a finite supply and can be depleted by human activities, such as fossil fuels or minerals.

User Cost

The opportunity cost of using a durable good, which includes depreciation and the foregone interest on the funds tied up in owning the good.

Market Rate

The prevailing price or interest rate for goods, services, or securities in a competitive marketplace.

User Cost

The cost of using a good or service, which includes the opportunity cost of not using the asset in an alternative use.