A Company Finds Out That Members of Its Target Market

question 79

Multiple Choice

A company finds out that members of its target market are likely to collect more information and evaluate more brands than early adopters.These people are cautious and thoughtful and do not try the product without asking someone else.The customers' dominant characteristic is deliberateness.In terms of the diffusion process,these customers are most likely in which group?

• A) laggards
• B) early minority
• C) late majority
• D) early majority

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Definitions:

Total Surplus

The total net gain to society from creating and using goods and services, shown by adding together consumer and producer surplus.

Total Surplus

The sum of consumer and producer surplus, representing the total net benefit to society from the production and consumption of a good or service.

Gains From Trade

Gains achieved by dividing tasks and trading; in this way people can get more of what they want through trade than they could if they tried to be self-sufficient.

Total Surplus

The sum of consumer surplus and producer surplus; a measure of the total benefit to society from a market transaction.