According to the first-mover advantage concept,the first firm to market a "new" product is guaranteed to be successful.

Question

Quizplus · Accepted Answer

The first-mover advantage concept does not guarantee success. While being the first to market can provide advantages such as brand recognition and market share, the success of the product ultimately depends on factors such as product quality, customer demand, and competition. Being first to market can also come with disadvantages, such as high costs for research and development and marketing. Therefore, there is no guarantee of success for the first mover.

According to the First-Mover Advantage Concept,the First Firm to Market