There Are Several Reasons Why a Consumer Might Be Reluctant

question 411

Multiple Choice

There are several reasons why a consumer might be reluctant to adopt a new product.For example,a consumer might be reluctant to adopt a new product because of a usage barrier,which occurs when __________.

• A)there is no incentive to change
• B)there are physical,economic,or social risks
• C)there are cultural differences
• D)the financial commitment is too great
• E)the product is not compatible with existing habits

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Definitions:

Entrepreneurship

The act of creating, designing, and running a new business, often initially a small business, offering products, processes, or services for sale or hire.

Emancipated Minor

A legal status granted to individuals under the age of 18, allowing them to enjoy adult rights and responsibilities due to certain circumstances.

Ratification

The principal’s approval of an unauthorized act performed by an agent or by one who has no authority to act as an agent. Also, an approval of a contract made by a minor after reaching maturity.

Contractual Obligation

A legal duty that arises out of a contract, requiring a party to either perform or refrain from performing certain acts.