________ refers to the speed with which consumers and businesses adopt a particular product.
A) A penetration strategy
B) Positioning
C) A skimming strategy
D) Diversification
E) Diffusion of innovation

Question

Quizplus · Accepted Answer

Diffusion of innovation refers to the process by which a new product or idea spreads through a population. The speed at which it spreads is referred to as the rate of diffusion. This rate is influenced by various factors such as the characteristics of the innovation, the communication channels used to spread the message, and the social system into which the innovation is being introduced. Understanding the rate of diffusion is important for businesses that are introducing new products, as it can help them determine the best strategies for marketing and distribution.

________ Refers to the Speed with Which Consumers and Businesses