Which of the following is an example of a strategy that an entrepreneur might use to overcome barriers to entry to an established product market?
A)Duplicate the product of the most successful seller in the market.
B)Push for strict licensing requirements for all sellers in the market.
C)Maintain minimal cash reserves to keep costs low.
D)Differentiate the product in ways that make it attractive to the goals of government regulators.

Question

Quizplus · Accepted Answer

Differentiating the product in ways that make it attractive to the goals of government regulators can provide a unique selling point for the product and make it more difficult for new competitors to enter the market. This can help overcome barriers to entry created by established competitors. Options A and B are not recommended as they involve copying or pushing for stricter regulations, which may not be ethical or sustainable practices. Option C may help keep costs low, but does not address the issue of barriers to entry.

Which of the Following Is an Example of a Strategy