An important advantage of first movers in a market is that they may establish brand recognition that may later serve as an important switching cost.

Question

Quizplus · Accepted Answer

There is an advantage to being the first mover in a market. It led to the success of Coca-Cola in becoming the first soft-drink company to build a recognizable global brand and enabled Caterpillar to get a lock on overseas sales channels and service capabilities.

An Important Advantage of First Movers in a Market Is