Discuss three customer adoption forces and three product adoption forces affecting new product-market penetration
What will be an ideal response?
Customer adoption forces affect the rate at which customers enter a market. Students can discuss any three of the following customer adoption forces:
(1 ) Felt need — customers must have a strong, recognized need for the product
(2 ) Personal risk — customers must perceive little or no economic, social, or safety risk associated with owning or using the product
(3 ) Buying decision — customers should be able to buy the product relatively easily with little or no input from others
(4 ) Observable — customers should be able to observe the product in use prior to purchase
(5 ) Trialability — customers should be able to try or sample the product prior to purchase
The strength of a product's positioning on the basis of its relative benefits has a major effect on the rate of market growth. Students can discuss any three of the following product adoption forces:
(1 ) Product advantage — customers believe the product offers a discernable advantage over existing products
(2 ) Affordable price — customers feel the price of the product is affordable given their buying power
(3 ) Easy to use — customers feel the product is not overly complex and would be easy to use
(4 ) Performance risk — customers feel there is little or no chance the product will fail to perform as advertised
(5 ) Availability — customers feel the product is readily available at the point of purchase preferred by customers
(6 ) Customer service — customers feel there is sufficient after-sales services in place to support any after-purchase problems
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A report prepared for top management should emphasize the operating details
Indicate whether the statement is true or false
The receivables of a company with installment receivables would normally be considered to be of higher quality than the receivables of a company that did not have installment receivables
Indicate whether the statement is true or false
Use this information to answer the following question. The selected accounts and balances for Keystone Market appear as follows: Advertising Expense $ 14,000 Common Stock 100,000 Dividends 21,000 Freight-In 7,000 Freight-Out Expense 10,000 Interest Income 24,000 Merchandise Inventory (Jan. 1) 70,000 Merchandise Inventory (Dec. 31) 56,000 Purchases 60,000 Purchases Returns and Allowances 4,000
Rent Expense 9,000 Retained Earnings 40,000 Sales 150,000 Sales Returns and Allowances 19,000 Wages Expense 32,000 The amount of net sales on the income statement would be a. $169,000. b. $144,000. c. $131,000. d. $137,000.