What occurs when an organization can significantly impact its market share by being the first to market with a competitive advantage?
A) Private exchange
B) First-mover advantage
C) Environmental scanning
D) Loyalty program

Question

Quizplus · Accepted Answer

When an organization can significantly impact its market share by being the first to market with a competitive advantage, it is called first-mover advantage. This can lead to a significant increase in market share and profitability, and can make it difficult for competitors to catch up or enter the market.

What Occurs When an Organization Can Significantly Impact Its Market