Identify and describe the stages in the adoption process
What will be an ideal response?
In the awareness stage, consumers become aware of the new product but lack information about it. Then, consumers seek information about the new product in the interest stage. In the evaluation stage, consumers consider whether trying the new product makes sense. Consumers try the product on a limited basis in the trial stage. Finally, consumers decide to make full use of the product in the adoption stage.
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Payments from customers before they receive a product or service.
(a) initial franchise fee (b) assurance-type warranty (c) upfront fees (d) contract liability
The transaction approach to determining income is a concept in which
a. income is measured as the amount that an entity could consume during a period and be as well off at the end of that period as it was at the beginning. b. the financial statement effects of business events are classified as revenues, gains, expenses, and losses, which are used to measure and define income. c. market values adjusted for the effects of inflation or deflation are used to calculate income. d. income equals the change in market value of the firm's outstanding common stock for the period.