When the Target Market Is Large and Spread Out, Mass

question 42

True/False

When the target market is large and spread out, mass selling may be less expensive than personal selling.

Identify the roles of innovators, early adopters, early majority, late majority, and laggards in the adoption of new products.

Comprehend the methods and benefits of diversifying product lines and entering new markets.

Acknowledge the high failure rate of new products and strategies to mitigate risk.

Recognize the role of opinion leaders in the diffusion of innovation curve.

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Definitions:

Less-Educated People

Individuals who have received lower levels of formal education or training compared to others in a society.

Older Adults

Individuals typically considered to be in the later stage of life, often defined as being 65 years old or older.

Social Information

Information derived from social contexts, including the behaviors, attitudes, and opinions of others, which influences individuals' knowledge, attitudes, and behavior.

Categorize

To classify or organize items or ideas into specific groups or classes based on shared characteristics or criteria.