Armando, a Technology Enthusiast, Is Often Willing to Pay Premium

question 66

Multiple Choice

Armando, a technology enthusiast, is often willing to pay premium prices to always have the newest tech gadgets. Armando most likely belongs to the _____ group of customers.

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

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Definitions:

New Product Development

The complete process of bringing a new product or service to the market, from idea generation and concept testing to design, production, and marketing.

Consumer Insights

The understanding and interpretation of customer data, behaviors, and feedback to drive product development, marketing strategies, and other business decisions.

Commercialization

The process of bringing a new product or service to the market, involving production, pricing, distribution, and marketing strategies.