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Question
Which of the following statements is true of innovators and early adopters?A. They are unwilling to take risks and to pay high prices.
B. They may demand considerable customization and technical support.
C. They are more likely to respond to marketing that communicates the product's completeness.
D. For this market segment, detailed technical information is not as important as using market channels with high reach and high credibility.
Answer
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Related questions
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What are the factors that determine whether switching to a new technology will benefit a firm?
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Once a new product design becomes a dominant design:
A. the product is no longer profitable.
B. it becomes difficult for competitors to imitate.
C. the architecture on which the industry can focus its efforts is destabilized.
D. the product design is adopted by the majority of producers.
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S-curves in technology performance and s-curves in technology diffusion are fundamentally different processes.
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The path a technology follows through time is termed as technology trajectory.
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A. technological dissonance
B. technological spillover
C. technological retardation
D. technological determinism
Q:
The benefits firms reap by locating in close geographical proximity to each other are known collectively as _____.
A. agglomeration economies
B. incubator economies
C. virtual economies
D. shadow economies
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Q:
Which of the following is true of externalities?
A. All externalities are negative in nature.
B. They are only borne by individuals responsible for creating them.
C. Technological innovation results in complete eradication of negative externalities.
D. Externalities can be in the form of benefits reaped by individuals.
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Technological innovations increase:
A. the gross domestic product of an economy.
B. product life cycles.
C. the time required for product development and introduction.
D. the production costs of multiple product variations.
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Technological innovation decreases the amount of output achievable from a given quantity of labor and capital.
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The influence of a dominant design can extend beyond its own technology cycle.
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A legally induced adherence to a dominant design is not possible.
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Network externalities cannot arise in markets that do not have physical networks.
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The learning curve indicates that the more units a company produces of an item, the more each unit will cost.
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What are the factors that determine whether switching to a new technology will benefit a firm?
Q:
How can the s-curves be used as a prescriptive tool? What would be the limitations of this approach?
Q:
Once a new product design becomes a dominant design:
A. the product is no longer profitable.
B. it becomes difficult for competitors to imitate.
C. the architecture on which the industry can focus its efforts is destabilized.
D. the product design is adopted by the majority of producers.
Q:
Iris is quite skeptical about new innovations and is most likely to adopt something new only after experiencing peer pressure to adopt the new innovation. However, she is not so risk averse that she will wait until all uncertainty of a new technology has been resolved; she is willing to accept a little uncertainty if her peers already use the product. Which of the following adopter categories does Iris belong to?
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C. a bundling relationship.
D. disintermediation.
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Speeding Horse Inc., a leader in the video game console market, is making its new generation consoles backward compatible with its previous games. This means that:
A. it is giving away its own installed base or complementary goods advantages to competitors.
B. it is providing a significant incentive to the owners of its previously developed consoles to buy the new console.
C. the transition of customers through product generations will become impossible.
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A. introduce the new technology right away and increase its market lead while taking away profits from its existing line of smartphones.
B. delay introduction of the next generation product until profits have begun to significantly decrease for the existing line of smartphones.
C. use up most of its financial resources in promoting the new phone.
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If a firm's objective is maximum market skimming, it will initially set a high price on new products.
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A. substitute products
B. value-added products
C. consignments
D. vaporware
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In the context of a firm's product diffusion curve, when there is a chasm between early adopters and early majority customers:
A. the firm must reduce its production capacity.
B. the firm should improve its efficiency to target the mass market.
C. the early majority market becomes saturated.
D. the early majority market is ready to buy the product.