Wal-Mart built the base of its retailing market power in small cities and towns. In most of those towns, the size of marketplace is so small that only one large retailer can successfully exist. This is known as:
A) adverse selection.
B) first-mover advantage.
C) secure strategy.
D) extension form.

Question

Quizplus · Accepted Answer

Wal-Mart's success in small cities and towns can be attributed to the first-mover advantage. Being the first large retailer in the area, they were able to establish themselves as the dominant player and create barriers to entry for competitors.

Wal-Mart Built the Base of Its Retailing Market Power in Small