The concept of the diffusion of innovation shows how a product "diffuses" or spreads through the population over time. The consumer population is divided into five categories of product adopters based on when they adopt (i.e., first buy) a new product. Each product adopter category has a unique profile. Consumers who have a fear of debt and depend on neighbors and friends as their information sources are called __________ product adopters.

Question

Quizplus · Accepted Answer

The consumers who have a fear of debt and depend on neighbors and friends as their information sources are called laggard product adopters. Laggards are the last ones to adopt a new product and are usually skeptical about new innovations.

The Concept of the Diffusion of Innovation Shows How a Product