James has the benefit of gaining customer loyalty by being the first company to bring out a new gourmet burger.This is a form of ________.
A)sustainable competitive advantage
B)first-mover advantage
C)leader advantage
D)tangible assets advantage

Question

Quizplus · Accepted Answer

The term "first-mover advantage" refers to the benefits that a company can gain from being the first to introduce a new product or service to the market. In James' case, being the first company to bring out a new gourmet burger gives them an advantage in terms of customer loyalty, as they are likely to be seen as the original and most trusted source for this particular product. This can help to create a barrier to entry for competitors, as customers may be loyal to James and less likely to switch to a competitor offering a similar product. Therefore, the best choice is B (first-mover advantage).

James Has the Benefit of Gaining Customer Loyalty by Being