Chris was the first amongst the sales group to purchase a smartphone when they were introduced to the market. This gave Chris an upper hand on other sales staff as he could stay in closer touch with current and potential customers and respond to their needs more quickly. What upper hand did the smartphone give Chris?
A)first-mover advantage
B)lower profits
C)less market adaptability
D)increased synergy

Question

Chris was the first amongst the sales group to purchase a smartphone when they were introduced to the market. This gave Chris an upper hand on other sales staff as he could stay in closer touch with current and potential customers and respond to their needs more quickly. What upper hand did the smartphone give Chris?
A)first-mover advantage  
B)lower profits  
C)less market adaptability  
D)increased synergy

Quizplus · Accepted Answer

Chris had the advantage of being the first to adopt a new technology (smartphone) in his industry, which is known as a first-mover advantage. This allowed him to be more responsive to his customers' needs and potentially gain a larger market share before his competitors caught up. Lower profits, less market adaptability, and increased synergy are not relevant to the given scenario.

Chris Was the First Amongst the Sales Group to Purchase