Learn Before
Analyzing the Initial Phase of Technology Adoption
A common pattern for new technologies is a period of slow initial market penetration followed by rapid growth. Deconstruct this initial slow-growth phase by explaining the primary characteristic of the first group of consumers and how this characteristic directly leads to a modest increase in the overall adoption rate.
0
1
Tags
Economics
Economy
Introduction to Macroeconomics Course
Ch.8 Economic dynamics: Financial and environmental crises - The Economy 2.0 Macroeconomics @ CORE Econ
The Economy 2.0 Macroeconomics @ CORE Econ
CORE Econ
Social Science
Empirical Science
Science
Analysis in Bloom's Taxonomy
Cognitive Psychology
Psychology
Related
A new, environmentally-friendly vehicle technology is introduced to the market. Despite positive reviews from early users, the overall market share grows very slowly in the first few years. Which of the following provides the most direct explanation for this initial slow rate of growth?
New Technology Adoption Scenario
Analyzing the Initial Phase of Technology Adoption
The slow initial adoption rate for a new, environmentally-friendly technology, such as electric vehicles, is primarily caused by the majority of potential consumers waiting for the price to drop before considering a purchase.
Evaluating Strategies for Early Technology Adoption
Match each phase of a new technology's market adoption with the primary characteristic that defines it.
A company launches two new 'green' technologies. Technology X is a highly specialized water recycling system for homes, appealing to a small niche of deeply committed environmentalists. Technology Y is a smart home energy monitor that appeals to a much broader audience of homeowners interested in saving money on utility bills. Assuming both technologies have similar high initial costs and positive early reviews, which of the following statements most accurately predicts their initial market adoption rates?
EcoInnovate's Market Growth Challenge
New Product Launch Strategy
A company is launching a revolutionary but expensive new 'green' product. Based on typical adoption patterns for such innovations, which of the following is the most realistic expectation for the company's marketing team in the first two years?