In the diffusion of innovations, adopter categories entail the classification of people or consumers depending on their willingness to try a new product. The five categories include innovators, early adopters, the early majority, the late majority and laggards.Know More
Innovators play the role of trying new ideas because they are usually venturesome. As a result, they create new products and put them on the market. Early adopters are the first people who learn about a product. This group plays an important role since other adopters come to them for advice.
Those in the early majority tend to discuss with their peers prior to making a decision about using a product. On the other hand, those in the late majority adopt the product after others have done so already. They tend to adopt a product after encountering a need. Laggards are the last people to adopt an innovation, and they usually have no opinion on a product.Learn more about Industries
Some product categories made in Massachusetts include computers and electronic equipment, instruments, industrial machinery and equipment, printing, chemicals and fabricated metals. Massachusetts is known as one of the larger industrial manufacturing centers among the states.Full Answer >
International or global marketing is defined as presenting an idea and final product to the rest of the world for the purpose of gaining an international marketing community. Domestic marketing refers to presenting products within the country where the company is located. Examples of companies that engage in both types of marketing are Coca-Cola and McDonald's.Full Answer >
When a product is labeled "TAA compliant," it means the item was made under guidelines set out in the Trade Agreements Act. Manufacturers who wish to contract with the government or an entity acting on its behalf must certify that their items are TAA compliant.Full Answer >
The three forms of technology in industry are product technology, process technology and information technology. Together, these technologies allow businesses to develop products and services in an efficient manner and communicate both within the company and with customers.Full Answer >