113) Differentiate between the types of gifting and provide an example of each. Answer: Intergroup gifting occurs whenever one group exchanges gifts with another group. An example of this is when a family gives a housewarming gift to a family that moves in next door. Intercategory gifting occurs when an individual gives a gift to a group or a group gives a gift to an individual. An example of this is when someone retires and everyone chips in to get the retiree a gift. An intragroup gift is a gift a group gives to itself. An example of this would be a couple who buys themselves a new television. An interpersonal gift is a gift between two individuals. A Valentine's Day gift from one spouse to the other would be an example of an interpersonal gift. An intrapersonal gift is a self-gift. If an individual buys himself a bottle of cologne as a reward for earning a promotion, he is gifting himself. Diff: 2 Skill: Application LO: 14.2: To understand the dynamics of buying gifts. AACSB: Application of knowledge 114) What are the differences between continuous, dynamically continuous, and discontinuous innovation? Answer: A continuous innovation has the least disruptive influence on established patterns. It involves the introduction of a modified product rather than a totally new product. A dynamically continuous innovation is somewhat more disruptive than a continuous innovation but still does not alter established behavior patterns. It may involve the creation of a new product or the modification of an existing product. A discontinuous innovation requires consumers to adopt new behavior patterns. Diff: 2 Skill: Concept LO: 14.3: To understand how new products gain acceptance and how individuals decide whether or not to adopt them. AACSB: Analytical thinking 115) Define and give examples of the five product characteristics that influence the diffusion of innovation. Answer: The five product characteristics that influence the diffusion of innovation are:
• Relative advantage: the degree to which potential customers perceive a new product as superior to existing substitutes. • Compatibility: the degree to which potential consumers feel a new product is consistent with their present needs, values, and practices. • Complexity: The degree to which a new product is difficult to use or understand. • Trialability: The degree to which a new product is capable of being tried on a limited basis. • Observability: The degree to which a product's benefits or attributes can be observed, imagined, or described to potential customers. Examples provided by students will vary. Diff: 2 Skill: Concept LO: 14.3: To understand how new products gain acceptance and how individuals decide whether or not to adopt them. AACSB: Reflective thinking
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