Liz Tends to Adopt New Products Sooner Than a Lot

question 88

Multiple Choice

Liz tends to adopt new products sooner than a lot of other people,but she weighs the pros and cons before buying.She does considerable product research,but her friends don't really look to her for information.She really deliberates before she makes a purchase.Liz is best described as a(n) :

• A) innovator
• B) early adopter
• C) early majority
• D) late majority
• E) laggard

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Definitions:

Gross Profit

The difference between sales revenue and the cost of goods sold before accounting for other expenses.

Markup

The amount added to the cost of goods to cover overhead and profit, usually expressed as a percentage of the cost.

Discontinued Inventory

Discontinued inventory includes products that are no longer being produced or sold by a company, often due to obsolescence or strategy shifts.

Gross Profit Margin

A profitability metric that shows the percentage of revenue that exceeds the cost of goods sold, indicating the efficiency in producing goods.