There Are Several Reasons a Consumer Would Be Reluctant to Adopt

question 63

Multiple Choice

There are several reasons a consumer would be reluctant to adopt a new product. For example, a consumer might be reluctant to adopt a new product because of a risk barrier, which occurs when

• A) there is no incentive to change.
• B) there are physical, economic, or social fears.
• C) there are cultural differences.
• D) the financial commitment is too great.
• E) the product is not consistent with existing habits.

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Definitions:

Interest Charges

Costs incurred for borrowing money, calculated as a percentage of the principal amount over a given period.

Project

A planned set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations.

Selling Price

The amount of money for which a product or service is sold to the customer.

Principal

An individual or entity that authorizes an agent to act on their behalf in legal or financial matters.