The advantages that come to firms that make important strategic and technological decisions early in the development of an industry are known as ________ advantages.
A) first-mover
B) competitive
C) early-entrant
D) first-comer

Question

Quizplus · Accepted Answer

First-mover advantages refer to the benefits that a company gains by being the first to enter a new market or introduce new products. These advantages can include establishing brand recognition, building customer loyalty, and setting the standards for technological or product innovations. By being an early entrant, a company can also gain a dominant market share that can be difficult for competitors to overcome. Therefore, option A is the best choice.

The Advantages That Come to Firms That Make Important Strategic