Often the best way for a firm to beat the competition is to be first to satisfy a need that others have not even considered.

Name: Often the best way for a firm to beat the competition is to be first to satisfy a need that others have not even considered.
Brand: Quizplus
Rating: 4.9 (49 reviews)

Question

Quizplus · Accepted Answer

Being the first to satisfy a need that competitors have not even considered can give a firm a competitive advantage by establishing itself as a pioneer in the market and gaining early adopters. This is known as first-mover advantage.

Often the Best Way for a Firm to Beat the Competition