The Group of Buyers That Enters a New Product Market

question 27

Multiple Choice

The group of buyers that enters a new product market when a product has achieved its full market potential are referred to as:

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

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Definitions:

Marketing Actions

Initiatives or strategies implemented by a company to promote its products or services, aiming to achieve specific marketing objectives and enhance market presence.

Customer Needs

Refers to the wants or desires that consumers have which are central to their purchasing decisions.

Marketing Program

A comprehensive plan that combines all of the marketing strategies, tactics, activities, and materials to promote a product or service.

Market Needs

The specific desires or requirements of consumers that businesses aim to fulfill with their products or services.