Firms in a slow-cycle market are shielded from imitators for long periods of time.

Question

Quizplus · Accepted Answer

Slow-cycle markets are those that have stable technology, predictable demand, and low rate of change. In such markets, firms can develop strong barriers to entry through patents, branding, and economies of scale. Hence, imitators are less likely to enter the market, and the incumbents can enjoy a competitive advantage for an extended period of time.

Firms in a Slow-Cycle Market Are Shielded from Imitators for Long