The term "diffusion of innovation" refers to the:
A)process of vertical integration between a manufacturer and its suppliers.
B)process by which a statement that describes a product or a service is presented to potential buyers or users to obtain their reactions.
C)process by which the use of a new product or a service spreads throughout a market group over time and over various categories of adopters.
D)process of balancing various engineering, manufacturing, marketing, and economic considerations to develop a product.
E)process of taking apart a competitor's product, analyzing it, and creating an improved product that does not infringe on the competitor's patents.

Question

Quizplus · Accepted Answer

The term "diffusion of innovation" refers to the process by which the use of a new product or service spreads throughout a market group over time and over various categories of adopters. It is a sociological theory that seeks to explain how and why new ideas and innovations are spread and adopted within a society or a social group. It describes the rate at which new products or services are adopted by different segments of a market, from early adopters to laggards, and the factors that influence this process.

The Term "Diffusion of Innovation" Refers to The