$2.$ Consider the ground beef alternative product from Impossible Foods for the following questions. Where is this product in terms of the product life cycle? $($Highlight one answer$)$

a$.$ Introduction

b$.$ Growth

c$.$ Maturity

d$.$ Decline

Explain your answer using course concepts:

Impossible Foods ground beef alternative products is in the growth stage. This is characterized by increasing sales, expanding market share, and raising customer acceptance. Consumers are becoming more aware of this product, which is leading to growth in sales and can start leading the company to increase marketing efforts.

$3.$ Consider the ground beef alternative product from Impossible Foods for the following questions. Where is this product in terms of the diffusion of innovation curve? $($Highlight one answer$)$

a$.$ Innovators

b$.$ Early Adopters

c$.$ Early Majority

d$.$ Late Majority

e$.$ Laggards

Explain your answer using course concepts:

The product is most likely in the early majority stage. Early majority is when the population is adapting to a product after a decent amount have already tried it$.$ The people in the early majority have been influenced by others to give the product a try and see if they like it themselves. This group is influenced by the early adopters.

$4.$ Refer to the Using the Diffusion of Innovation Theory in the textbook. Which one of the four factors that impact the diffusion of a good or service would most likely block product adoption for this product? $($Highlight one answer$)$

a$.$ Relative Advantage

b$.$ Compatibility

c$.$ Observability

d$.$ Complexity and Trialability