In the context of consumer behavior, which group is described as those buyers who want to be the first on the block to have a new product or service?

• A. Laggards
• B. Early majority
• C. Innovators
• D. Late majority

Answer: (C)

Verified step by step guidance

1. Understand the concept of consumer adoption categories in the diffusion of innovations theory, which classifies consumers based on when they adopt a new product or service.
2. Identify the characteristics of each group: Laggards are the last to adopt, often skeptical and resistant to change; Early majority adopt after seeing evidence of benefits; Late majority adopt after the average consumer, often due to peer pressure or economic necessity.
3. Recognize that 'Innovators' are the first group to adopt a new product or service, characterized by their willingness to take risks and desire to be the first on the block with new innovations.
4. Match the description 'buyers who want to be the first on the block to have a new product or service' with the group known as 'Innovators' based on their pioneering behavior.
5. Conclude that the correct group described in the problem is 'Innovators' because they lead the adoption process and are eager to try new products before others.