Question

________ begins with new-product purchases first by innovators, and then by early adopters. Multiple Choice The market-product life cycle Diffusion of innovation The innovation adoption continuum The consumer decision process The offering adoption model

Answer 1

Answer:

The correct answer is letter "B": Diffusion of innovation.

Explanation:

American sociologist Everett Rogers (1931-2004) proposed the Diffusion of Innovation (DOI) theory to explain how a business attracts consumers after a certain period in a specific market sector. Rogers believed the reasons why a product was given importance earlier than others depend on the ability of consumers to adapt to innovation.

DOI model identifies five stages that describe the degree of adaptability consumers have to new products: innovators, early adopters, early majority, late majority, and laggards.