Being "first to market" is a highly sought-after position among ventures serving a given customer segment because the early entrants to a market have the ability to overcome existing market barriers and to use those barriers as a weapon to thwart competition.

Question

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Being first to market provides advantages such as establishing brand recognition, capturing market share, and securing key distribution channels, which can make it difficult for competitors to enter the market. It also allows the first-mover to create or shape customer preferences and establish switching costs, making it more difficult for customers to switch to a competitor's product.

Being "First to Market" Is a Highly Sought-After Position Among