Relative Advantage Is

question 20

Multiple Choice

Relative advantage is:

• A) The degree to which potential consumers perceive a new product as superior to existing substitutes.
• B) The degree to which potential consumers perceive a new product as inferior to existing substitutes.
• C) The degree to which potential consumers feel that a new product is consistent with their present needs, values and practices.
• D) The degree to which a new product is difficult to understand or use.

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Definitions:

Popular Culture

Encompasses the set of ideas, perspectives, attitudes, images, and other phenomena that are within the mainstream of a culture, especially those disseminated via mass media.

Innovation Success

The achievement of desired outcomes and impacts from new ideas, products, or processes, measured by criteria such as adoption, profitability, and market penetration.

Return on Investment

calculates the financial return on a particular investment relative to its cost, to evaluate its efficiency.

Marketing Pull

A strategy that creates demand through consumer interest and engagement, drawing customers toward a product or brand.