Which of the following statements is true of customer preferences?
A) The importance of technological features to customers stays constant over time.
B) Customers can differ from producers in their understanding of a new technology.
C) All pioneers of new-to-the-world technologies face customer uncertainty.
D) Other things being equal, more customer uncertainty favors earlier timing of entry.

Question

Quizplus · Accepted Answer

Customers and producers may have different levels of understanding and preferences regarding new technologies. It is important to consider customer preferences when developing and marketing new products.

Answer: C
 When introducing a new-to-the-world technology, customers may be uncertain and hesitant to adopt the product. This presents a challenge for pioneers in the market.

Answer: D
 When there is greater customer uncertainty, entering the market earlier may be advantageous as it allows for establishing a foothold and building brand recognition before competitors enter.

Which of the Following Statements Is True of Customer Preferences