A first-mover advantage is
A)the ability of later market entrants to achieve long-term competitive advantages by not being the first to offer a certain product in a marketplace.
B)the ability of an innovative company to achieve long-term competitive advantages by being the first to offer a certain product in the marketplace.
C)the result of a company matching a core competency to opportunities it has discovered in the marketplace.
D)a combination of circumstances and timing that permits an organization to take action to reach a particular target market.
E)the selection of a target market and the creation of a marketing mix that will satisfy the needs of that target market.

Question

Quizplus · Accepted Answer

A first-mover advantage is the benefit gained by a company that is the first to offer a new product or service in the market. Being the first to enter the market provides a competitive edge, as it allows the company to establish brand recognition, customer loyalty, and a stronger market position before competitors enter the same market. This advantage can result in higher sales, greater market share, and ultimately, sustained profitability for the company.

A First-Mover Advantage Is