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Marketing Final Exam

For new products to try mitch is best described as an

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Unformatted text preview: re almost obsessed with trying new ideas and products. PTS: 1 REF: 179 Thinking KEY: CB&E Model Customer OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Comprehension 51. Mitch purchased a 32-inch HD television right after they were introduced in the marketplace and paid over $8,000 for it. He has a master’s degree in business and is well-informed about electronic products. He is venturesome and is always looking for new products to try. Mitch is best described as a(n): a. early adopter b. early majority c. innovator d. diffusers e. lead consumer ANS: C Innovators make up the first 2.5 percent of all those who adopt the product, are well-educated, venturesome, have higher incomes, and are self-confident. PTS: 1 REF: 179 Thinking KEY: CB&E Model Customer OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Application 52. _____ embrace products relatively early in the product life cycle, are likely to be community oriented, and often are opinion leaders themselves. a. Early adopters b. Innovators c. Early majority d. Late majority e. Laggards ANS: A Although early adopters are not the very first, they do adopt early in the product’s life cycle. PTS: 1 REF: 179 Thinking KEY: CB&E Model Customer OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Knowledge 53. Jim didn’t buy a netbook computer when they first came out, but he did purchase one a year after they were introduced to the market. He is very active in his church and local arts council, and many of his friends asked him which brand to buy when they were considering purchasing a netbook. Jim is best described as a(n): a. innovator b. early adopter c. early majority d. leading consumer e. proactive ANS: B Although early adopters are not the very first, they do adopt early in the product’s life cycle. PTS: 1 REF: 179 Thinking KEY: CB&E Model Customer OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Application 54. All of the following statements about how adopters participate in the diffusion process are true EXCEPT: a. early adopters may also be opinion leaders b. laggards are the last consumers to adopt a new product c. there are three categories of consumers who will adopt an innovation d. the dominant characteristic of members of the late majority is skepticism e. innovators are the first to purchase a new product ANS: C There are five categories: innovator, early adopter, early majority, late majority, and laggard. PTS: 1 REF: 179-180 Thinking KEY: CB&E Model Customer OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Analysis 55. All of the following are categories of adopters in the diffusion process of innovations EXCEPT: a. laggards b. innovators c. early majority d. early adopters e. doubters ANS: E The five categories of adopters are innovators, early adopters, early majority, late majority, and laggards. PTS: 1 REF: 179-180 Thinking KEY: CB&E Model Customer OBJ: 11-4 TOP: AACSB Reflective MSC: BLOOMS Analysis 56. A company has learned that members of its target market are likely to collect...
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