The Diffusion of Innovation Theory Is Useful for Firms Because

question 98

Multiple Choice

The diffusion of innovation theory is useful for firms because it primarily helps them:

• A)survive in a market where sales come from mostly new products.
• B)develop effective promotion, pricing, and other marketing strategies.
• C)reduce risk by diversifying into a broad portfolio of products.
• D)satisfy the needs of only current customers.
• E)actively pursue and focus on laggards.

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Definitions:

U.S. Labor Laws

Regulations and statutes in the United States that govern the rights of workers and the obligations of employers, including aspects of employment, remuneration, and workplace safety.

Workplace Governance

Refers to the strategies, policies, and processes implemented by an organization to manage, direct, and control its various functions and workforce efficiently.

Competitive Markets

Markets characterized by a large number of buyers and sellers, free entry and exit, and products that are similar enough to be considered substitutes, fostering competition.

Mainstream Economics

The body of knowledge, theories, and models that represents the most widely accepted views and practices in the field of economics.