Frankl Products Is Coming Out with a New Type of Computerized

question 20

Essay

Frankl Products is coming out with a new type of computerized refrigerator with a flat panel display that accesses the internet for recipes,nutrition information,etc.Which group (innovators,early adopters,early majority,late majority,or laggards)should the company target its promotion towards initially and what type of message and medium should it use?

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Definitions:

Marketplace

A marketplace is a physical or digital venue where buyers and sellers come together to exchange goods, services, or information.

Social Optimum

The ideal state of resource allocation in which society's overall welfare is maximized, balancing efficiency and equity among individuals.

Market Equilibrium

The point in a market where the quantity demanded by consumers equals the quantity supplied by producers, resulting in a stable price.

Negative Externality

An adverse effect on a third party not directly involved in a transaction, which results from economic activity without compensation.