Final answer:
Early adopters are consumers who take risks and are keen to be the first to try new products or services. They play a key role in market competition and innovation, encouraging entrepreneurs and companies to create better offerings.
Step-by-step explanation:
The consumers who enjoy taking risks and like to be the first to purchase a new product or service are commonly referred to as early adopters.
These are individuals who are attracted to the thrill of experiencing and owning something before the majority does. They are a crucial market segment for entrepreneurs who identify a need and courageously start a new business to fill that gap.
They are essential for the market competition, driving firms to innovate and offer better products at potentially lower prices, benefiting all consumers in the long run.
Early adopters rely on an entrepreneur's ability to calculate risks carefully and the promise of companies to continually pursue innovation to enhance consumer experiences, as exemplified by the practices of prominent firms like Samsung.