Explain the classification of customers based on different adoption characteristics seen during different
stages of a product's lifecycle.
What will be an ideal response?
The type of customer we target varies depending on the life cycle stage because different individuals show different
adoption characteristics. The introduction stage attracts innovators (the very first to try the product or service, often
pioneering types who relish innovation) and early adopters (among the earliest to try the new product or service).
The growth stage transitions from the early adopters to the early majority (people who value the product or
service's benefits, but are unwilling to suffer the defects often inherent in early models). The maturity stage
corresponds to late majority customers (conservative individuals who wait for products to reach full maturity
before purchasing). The decline stage is characterized by a transition from late majority customers to laggards, who
are highly conservative and risk-averse, and are often niche markets who perceive that no substitute exists.
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Elon feels that to be the forerunners in the automotive industry he needs to take risks and be innovative. He thinks that his teams are the ones creating change to which other competitors must respond. Elon is using which strategy?
a. Defender b. Reactor c. Prospector d. Analyzer
The view that an organization has an obligation to those who can affect the achievement of its objectives is referred to as ________.
A. social responsibility B. benefit marketing C. profit responsibility D. stakeholder responsibility E. value consciousness
Answer the following statement(s) true (T) or false (F)
16. According to the authors, the two main parts to the “perfect pitch” are the content and the communication. 17. The authors recommend never leaving a presentation with a request. 18. Branding is the process of creating a name, term, design, symbol, or any other feature that identifies a product or service and differentiates it from others. 19. The drawback of the Twitter approach is that a product can only be pitched via Twitter. 20. Research shows that ten-second first impressions are as powerful as impressions built over a period of months.
A firm's financing costs include
A) interest expense B) depreciation expense. C) costs of goods sold. D) both A and B.