According to the concept of the diffusion of innovation, consumers who have a fear of debt and depend on neighbors and friends as their information sources are called

A) innovators.
B) early adopters.
C) the early majority.
D) the late majority.
E) laggards.

Learning Objectives

• Determine the traits and ratios of innovators, early adopters, early majority, late majority, and laggards within the diffusion process.
• Recognize the impact of consumer behavior and social influence on the acceptance of innovative products.
• Examine the impact of sources of consumer information and social status on the spread of new ideas and technologies.