Cleon, a Korean cosmetics brand, recently launched its range of face oils in an entirely new market where that product has never been introduced by any brand. Exploring the new market turns out to be greatly beneficial for the company as the sales of the face oils shoot up immediately. In the given scenario, Cleon is a _____.

Question

Quizplus · Accepted Answer

Cleon is a "first mover" because it is the first company to introduce face oils in a new market, gaining an advantage over potential future competitors.

Cleon, a Korean Cosmetics Brand, Recently Launched Its Range of Face