From a Marketing Standpoint, Which Group of Product Adopters Should

question 31

Multiple Choice

From a marketing standpoint, which group of product adopters should marketers spend the least amount of time and effort in convincing them to buy a product?

• A)innovators
• B)early adopter
• C)laggards
• D)late majority
• E)early majority

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Definitions:

ATC Curve

The Average Total Cost curve represents the per-unit cost of production (fixed plus variable costs) at different levels of output.

Efficient

The optimal use of resources to achieve the desired ends with minimal waste or effort, often related to production and allocation.

Economy

A system by which goods and services are produced, distributed, and consumed.

Long-Run Equilibrium

A situation in which all firms in a market are making zero economic profit, leading to a stable market condition where no new firms enter or exit.