​Technology Is Changing Consumer Behavior in a Variety of Ways

question 190

Multiple Choice

​Technology is changing consumer behavior in a variety of ways such as the adoption of streaming services such as Netflix.Netflix faces increasing competition from Amazon and Hulu Plus as well as satellite and cable companies who offer video on demand.Netflix has experienced rapid adoption by consumers but the entrance of competition is creating challenges for Netflix to remain dominant.What stage of the product life cycle best describes Netflix?

• A)​growth
• B)​introduction
• C)​maturity
• D)​decline

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Definitions:

Patent

A legal document granted by the government that gives an inventor exclusive rights to make, use, or sell an invention for a certain number of years.

Exclusive Right

A legal privilege granted to an individual or organization to be the sole provider or practitioner of a specific service or product in a particular area.

Forever

A term indicating an infinite or unspecified period of time, often used in the context of time without end.

Average Total Cost

The cost per unit of output, calculated by dividing the total cost by the quantity of output produced.