Square provides a means for small businesses to process credit and debit card sales without signing up for a traditional credit card arrangement of monthly fees and minimum charges.It used which new entry strategy to enter the market initially?
A) imitative
B) pioneering
C) adaptive
D) differentiated

Question

Quizplus · Accepted Answer

Whereas pioneers are often inventors or tinkerers with new technology, imitators usually have a strong marketing orientation. They look for opportunities to capitalize on proven market successes. An imitative new entry strategy is used by entrepreneurs who see products or business concepts that have been successful in one market niche or physical locale and introduce the same basic product or service in another segment of the market. While Square has quickly established itself in the market, it now faces strong competition from major competitors, including Intuit and PayPal.

Square Provides a Means for Small Businesses to Process Credit