ch 12 learnsmart

stages in the product life cycles:

1. introduction 2.growth 3.maturity 4.decline

early adopters, although not as fast as innovators, are quick to purchase a new product or service. Identify all of the following characteristics that are typically associates with early adopters ______.

are less risk seeking than innovators and tend to be opinion leader of particular product categories

late majority will

buy it after most of their friends have one

the key characteristics of the growth stage of the product life cycles are:

competitors increase and sales rise

the process by which the use of an innovation, whether it be a product or service, is spread throughout a market group over time and over various categories of adopters, is know as _______.

diffusion of innovation

usually, during the ______ stage of the product cycle, the typical consumers would be early adopters, and there would be increases in the number of competitors.

growth

the _______ stage of the product life cycle is characterized by initial losses to the firm due to its high start-up costs and low levels of sales revenue as the product begins to take off

introduction

innovators would

line up outside the store to be the first to buy it

laggards may

never buy one; if they do, it may not happen until something newer has come along

key characteristics of the introduction stage are that ______.

start-up costs are high and profits are low

_____ defines the stages products move through as they enter, get established in, and ultimately leave the marketplace

the product life cycle

early adopters will

wait a week or two and read several review before buying

early majority will

wait until they are surest works well and that they will be able to use it