The Innovation Adoption Curve Model Indicates the Rate of Adoption

question 8

True/False

The innovation adoption curve model indicates the rate of adoption of a new product using time of adoption as a basis for classifying individuals into five major groups: innovators,early adopters,early majority,late majority and laggards.

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Definitions:

Product Mix

The variety of different products that a company makes or sells, aiming to maximize profit or market share.

Operations Managers

People in charge of managing, creating, and guiding the workflow and restructuring business activities in the manufacturing of products or services.

Product Opportunities

Potential avenues through which new or improved products can meet market needs, leading to growth and competitive advantage for a company.