Consumers Will Bear the Costs of Switching Technologies If

question 2

Multiple Choice

Consumers will bear the costs of switching technologies if:

• A) the benefits of adopting the new technology outweigh the costs of switching.
• B) switching costs are substantial.
• C) the new products are packaged attractively.
• D) there is a lack of complementary products.
• E) the new technology is advertised subtly.

---

Definitions:

Situation Analysis

The systematic collection of data to identify the trends, conditions, and competitive forces that have the potential to influence the performance of the firm and the choice of appropriate strategies.

Targeting

The process by which businesses identify and reach specific audiences or demographics most likely to be interested in their products or services.

Maximizing Sales

Pertains to strategies and efforts aimed at increasing the total sales revenue of a product or service.

Market Segment

A subsection of a market composed of individuals or organizations sharing one or more characteristics that cause them to demand similar products or services.