Which of the following is NOT a characteristic of firms that are followers?
A)They do not get the loyalty of customers.
B)They can benefit by learning from the first movers.
C)They are the firms that enter the market after the first mover.
D)They are often more successful than the first-mover firms because they do not repeat their predecessor's mistakes.

Question

Quizplus · Accepted Answer

The statement "They are often more successful than the first-mover firms because they do not repeat their predecessor's mistakes" is not true. In fact, followers often face disadvantages such as having to play catch-up with the first mover and being unable to differentiate their products or services from those of the first mover.

Which of the Following Is NOT a Characteristic of Firms