The _____ Is a Theory Developed by E

question 20

Short Answer

The _____ is a theory developed by E.M.Rogers to explain how a new idea or product gains acceptance and diffuses (or spreads)through a specific population or subset of an organization.

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Definitions:

Equilibrium Price

The value at which the supply and demand for a good or service are equal, creating a balanced market scenario.

Equilibrium Quantity

The quantity of goods or services traded in a market at the equilibrium price, where supply equals demand.

Demand for Bottled Water

Refers to the consumer need or desire to purchase bottled water, influenced by factors like health concerns, convenience, and taste preferences.

Substitute Product

A product that can be used in place of another, fulfilling the same needs or desires.