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Marketers Classify Innovations into Three Categories Based on Their Degree

question 96

Essay

Marketers classify innovations into three categories based on their degree of newness. Explain these categories, identifying the role the consumer has in each.


Definitions:

Earrings

Jewelry pieces designed to be worn on the earlobes or other parts of the ear.

Total Costs

The complete sum of all expenses incurred in the production of goods or services, including both fixed and variable costs.

Earrings

Jewelry worn on the earlobes or other parts of the ear, often for adornment.

Marginal Cost

The extra expense associated with manufacturing an additional unit of a product or service.

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