A company has developed a new, innovative product. If it is quick to enter a new market, it will have the ability to preempt rivals and capture demand by establishing a strong brand name and customer satisfaction. In other words, this company will have captured a. pioneering advantages. b. first-mover advantages. c. initial competencies. d. late-mover advantages.

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20-12-2022
Business

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A company has developed a new, innovative product. If it is quick to enter a new market, it will have the ability to preempt rivals and capture demand by establishing a strong brand name and customer satisfaction. In other words, this company will have captured a. pioneering advantages. b. first-mover advantages. c. initial competencies. d. late-mover advantages.

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PallaviB PallaviB · Answer 1 · 2022-12-22T11:40:04-05:00

This company will have captured a First-mover advantages. It refers to the potential competitive edge that a company can gain by being the first to enter a new market. This is done by preempting rivals and capturing demand by establishing a strong brand name and customer satisfaction.

This strategy allows the company to gain a foothold in the market before competition enters and allows the company to build a loyal customer base that may be difficult to sway away from the company's brand. Additionally, the first-mover also benefits from being able to control pricing and distribution in the market, as well as having the ability to gain customer insights that can be used to further innovate and develop the product.

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