Figure 11-5 -The Consumers Represented by Segment C in Figure 11-5 Above

question 220

Multiple Choice

Figure 11-5

-The consumers represented by Segment C in Figure 11-5 above are called

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

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Definitions:

Theory of Consumer Behavior

A framework that examines how consumers make decisions to allocate their resources on consumption-related items.

Marginal Utility

The increased pleasure received from consuming an extra unit of a good or service.

Rational Consumer

A consumer who systematically and logically evaluates available options to maximize their satisfaction or utility in decision-making processes.

Marginal Utility

The surplus enjoyment or utility obtained from the consumption of one extra unit of a good or service.