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The Adoption Process for New Technology or a New Product

question 57

Essay

The adoption process for new technology or a new product can vary significantly from country to country. Explain the five characteristics that a product needs to offer to prospective users to improve its chances of adoption in an overseas market.


Definitions:

Grameen Bank

A microfinance organization and community development bank founded in Bangladesh that makes small loans to the impoverished without requiring collateral.

Microloans

Small, often short-term loans aimed at supporting small-scale enterprises or individuals who lack access to traditional banking services.

Bangladesh

A country in South Asia, recognized for its rich culture, history, and as a rapidly evolving economy.

Market Characteristics

Features or attributes of a market, including its size, growth rate, competitiveness, and customer demographics.

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