Asked by Jordan Hidayat on May 26, 2024

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Which of the following is a true statement about the rate of diffusion?

A) Costly innovations will diffuse more quickly in the market.
B) Highly complex innovations are more quickly adopted by laggards.
C) Customers are more likely to try a product if the price of change is low.
D) News reports about new product innovations are more influential than inter-consumer communications.

Rate of Diffusion

The speed at which a new product, service, or innovation spreads across a market or society.

Highly Complex Innovations

Innovations that are sophisticated and involve a high degree of technical advancement or complex combinations of technologies and processes.

Inter-consumer Communications

The exchange of information, opinions, or feedback among consumers regarding products, services, or brands.

  • Develop plans to increase the spread of novel innovations.
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RB
Rebecca BellegardeMay 30, 2024
Final Answer :
C
Explanation :
Customers are more likely to try a new product if it requires low costs for change, such as a low monetary investment or minimal adjustments to current habits. This is supported by research on the diffusion of innovations, which shows that early adopters are typically willing to take on higher costs and risks associated with new products, while later adopters are more motivated by convenience and affordability.