Gaining a significant benefit from being the first to introduce a new product or service is known as
A) first-mover advantage.
B) a Nash equilibrium strategy.
C) tit-for-tat.
D) a dominant strategy.

Question

Quizplus · Accepted Answer

First-mover advantage refers to the competitive advantage gained by a company that first introduces a product or service to the market, often allowing it to establish strong brand recognition and customer loyalty before competitors enter the space.

Gaining a Significant Benefit from Being the First to Introduce