What are advantages that accrue to early entrants into a business market referred to as?

Question

Quizplus · Accepted Answer

First-mover advantages refer to the benefits that accrue to companies that are early entrants into a market. These advantages include establishing brand loyalty, building a reputation, creating barriers to entry for competitors, and gaining access to resources before others. Being the first to market also allows for greater control over pricing, which can provide a significant advantage. These benefits can be difficult to replicate for later entrants, giving the first-mover a long-term advantage.

What Are Advantages That Accrue to Early Entrants into a Business