Flashcards in Chapter 11 Deck (14):
A consumer who was happy enough with his or her experience with a product to use it again
A product perceived as new by a potential adopter
The process by which the adoption of an innovation spreads
A biological metaphor that traces the stages of a product's acceptance from its introduction (birth) to its decline (death)
Product Life Cycle
All brands that satisfy a particular type of need.
The first stage of the PLC in which the full-scale launch of a new product into the marketplace occurs
The second stage of the PLC when sales typically grow at an increasing rate, many competitors enter the market, large companies might start acquiring small pioneering firms, and profits are healthy.
The third stage of the PLC during which sales increase at a decreasing rate
The fourth stage of the PLC, characterized by a long-run drop in sales
The first 2.5% of all those who adopt the product
13.5% of adopters following the innovators (the Influencers), desire to talk to others about their experiences with goods and services
34.0% of adopters following the Early adopters, weight the pros and cons before adoptying a new product, deliberateness
34.0% of adopters following the Early majority, rely on group norms, pressured to conform, skepticism