Concept of the Diffusion of Innovation Shows How a Product

question 389

Multiple Choice

concept of the diffusion of innovation shows how a product "diffuses" or spreads through the population over time.The consumer population is divided into five categories of product adopters based on when they adopt (i.e.,first buy) a new product.Each product adopter category has a unique profile.Consumers who are skeptical and have below average social status are called __________.

• A) innovators
• B) early adopters
• C) early majority
• D) late majority
• E) laggards

---

Definitions:

Interest Rates

The cost of borrowing money or the return on savings, usually expressed as a percentage.

Lower

To reduce in height, intensity, or amount.

Short-term Sources

Financial resources or funding options available to a company for a period typically less than a year, used to fulfill immediate financial needs.

Funds

Capital that is set aside for a specific purpose or project, often collected from various sources and utilized for investment or expenses.