The life cycle of a product depends on sales to customers. The shapes of life-cycle curves indicate that most sales occur after the product has been on the market for some time. The concept that some people are attracted to a product early while others buy it only after they see their friends with the product is called the:

Question

Quizplus · Accepted Answer

The concept described in the question refers to the diffusion of innovation, which is the process by which an innovation (a new product or idea) is adopted by a certain percentage of the population over time. The five categories of adopters (innovators, early adopters, early majority, late majority, and laggards) are part of this process. Option A refers to these categories specifically, while options B and D are not related to the described concept.

The Life Cycle of a Product Depends on Sales to Customers