A Company Has Learned That Members of Its Target Market

question 140

Multiple Choice

A company has learned that members of its target market are likely to collect more information and evaluate more brands than early adopters.They are cautious and thoughtful and do not try the product without asking someone else.The customers' dominant characteristic is deliberateness.In terms of the diffusion process,these customers are most likely:

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

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Definitions:

Mass Customization

A strategy that allows consumers to personalize specific aspects of a product while still producing it in large volumes, combining the benefits of mass production with individual customization.

Online Shopping

The act of purchasing products or services over the Internet, allowing consumers to buy goods from the comfort of their own homes.

Value Cocreation

A business strategy that emphasizes the collaboration between companies and customers to produce mutual value.

Production Processes

The methods and sequences of operations used by manufacturers to produce goods, involving material selection, fabrication, and assembly.