Examlex

Solved

A Good Friend of Yours Wonders Why You Always Seem

question 131

Essay

A good friend of yours wonders why you always seem to have the latest technology, long before anyone else. He then says, "I always want to wait until the bugs have been worked out. It saves me money and aggravation." Use diffusion of innovation theory to explain how you differ as consumers, and what this means to marketers.


Definitions:

Gift Card

A prepaid debit card loaded with a specific amount of money, which can be used as a gift and is redeemable for purchases at specified retailers.

Budget Line

Displays combinations of products that a consumer can afford with a fixed budget, based on their prices.

Price Ratio

The relationship between the prices of two goods, indicating how many units of one good can be exchanged for one unit of the other.

Utility Ratio

The comparison of the utility (satisfaction) received from one choice relative to another.

Related Questions