McKenzie_Ch_11 - Marketing: Making Sure Programs Respond to...

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Marketing: Making Sure Programs Respond to the Wants and Needs of Consumers Chapter 11
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Key Terms Market - “the set of all people who have an actual or potential interest in a product or service” Marketing - exchange of costs and benefits by buyers and sellers, or providers and consumers Tangible (material items) vs. intangible (i.e., awareness, knowledge, skills, & behavior) products Social marketing - deals with intangible products
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The diffusion theory (Rogers, 1962) provides an explanation for the diffusion of innovations (something new) in populations. Or stated a little differently, it explains the pattern of adoption of the innovations.
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Diffusion Theory (Rogers, 1962) Bell-shaped curve Priority population Innovators (-2 sd from mean) (2-3%) Early adopters (-2 to -1 sd from mean) (14%) Early majority (-1 sd to mean) (34%) Late majority (mean to +1 sd) (34%) Laggards (> +1 sd) (16%) Each group has its own set of characteristics Adoption is cumulative (S-shaped curve)
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McKenzie_Ch_11 - Marketing: Making Sure Programs Respond to...

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