Which of the following statements is true of growing industries?
A) Innovators and early adopters have the same customer needs as the early majority.
B) Innovators and early adopters are typically reached through specialized distribution channels.
C) Reaching the early majority rarely requires advertising and is usually achieved through word of mouth.
D) Companies serving innovators need to have large-scale mass production and very low prices.
E) Companies competing in an embryonic market typically pay more attention to increasing the reliability of a product than to its performance.

Question

Quizplus · Accepted Answer

Innovators and early adopters often have unique needs and preferences, and may require specialized distribution channels to reach them.

Note: None of the other options accurately describe characteristics of growing industries. Option A is incorrect as early majority customers have different needs compared to early adopters and innovators. Option C is incorrect as advertising can still play a role in reaching the early majority. Option D is incorrect as companies serving innovators may not necessarily require mass production or low prices. Option E is incorrect as increasing reliability and improving performance are both important factors in developing a new product.

Which of the Following Statements Is True of Growing Industries