Lecture 8: Product Buying

Question 1

Different types of innovation (3)

Answer 1

1. discontinuous innovations
2. dynamically continuous innovations
3. continous innovations

Question 2

alternative types of innovation (3)

Answer 2

1. functional performance
2. aesthetic or hedonistic innovations
3. Symbolic innovations

Question 3

success of innovation 1 (5)

Answer 3

1. compatibility
2. reactive advantage
3. trial ability
4. observability
5. speed

Question 4

success of innovation 2 (5)

Answer 4

1. simplicity
2. perceived risk
3. product symbolism
4. aesthetic of hedonistic innovations
5. innovation overload

Question 5

traditional adoption process

Answer 5

1. awareness
2. interest
3. evaluation
4. trial
5. adoption

Question 6

importance of innovators (4)

Answer 6

1. immediate cash flow
2. develop market leadership
3. feedback
4. communication to later adopters

Question 7

targeting innovators (4)

Answer 7

1. understanding their characteristics
2. the type of lifestyle
3. tend to be younger
4. their reading goes beyond local and mass media

Question 8

opinion generators (3)

Answer 8

1. opinion formers
2. opinion leaders
3. opinion shapers

Question 9

opinion formers

Answer 9

people how have a status of experts because of their job

Question 10

opinion leaders

Answer 10

people influencing others through word of mouth

Question 11

opinion shapers

Answer 11

people influencing other by the way the behave

Question 12

two step model of communication

Answer 12

sender - opinion leader - receiver

Question 13

stimulating opinion leadership (3)

Answer 13

1. pass it on type campaigns
2. planting discussions
3. buzz marketing