When commercializing a new product,market-entry timing is critical.Your firm has the distinction of being the first to market with your new product.As the first entrant in the market,your company can enjoy ________.

Question

Quizplus · Accepted Answer

First mover advantages refer to the benefits that the first entrant into a market can enjoy, including brand recognition, customer loyalty, and the ability to set prices. Being the first to market with a new product can provide a significant advantage over competitors, and therefore, the best choice is B. Market attractiveness, parallel entry, late entry, and brand awareness are not directly related to being the first mover in a market.

When Commercializing a New Product,market-Entry Timing Is Critical