An Individual Moves into the Adoption Stage of the Product

question 357

Multiple Choice

An individual moves into the adoption stage of the product adoption process at the point when he or she

• A)is self-motivated to get information about the product.
• B)begins using that specific product.
• C)seriously considers whether the product will satisfy his or her needs.
• D)experiences the product for the first time.
• E)becomes aware that the product exists.

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Definitions:

Demand Increases

A situation in market analysis where the quantity of a good or service that consumers are willing and able to buy rises.

Market Price

The current price at which a good or service can be bought or sold in the marketplace.

Perfectly Competitive Industry

An economic framework where numerous sellers and buyers exist, with unrestricted entry and exit, and the product offered is uniform.

Increase Revenue

Strategies or actions that lead to a rise in the total amount of money received by a company for goods sold or services provided.