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