Question

Which of the following refers to the belief that the first company to enter a market has the best chance of being the market​leader?

A. Enabling conditions
B. Early arriver advantage
C. Newcomer syndrome
D. First-mover advantage
E. First-mover disadvantage

Answer 1

The belief that the first company to enter a market has the best chance of being the market leader is known as the First-mover advantage, which includes gaining a strong brand and customer loyalty.

Step-by-step explanation:

The belief that the first company to enter a market has the best chance of becoming the market leader is known as the First-mover advantage. This concept suggests that by being the first to establish a presence in a particular market, a company can build a strong brand, secure customer loyalty, and gain control over resources that later entrants may not be able to match. The first-mover advantage allows a company to set standards and create barriers for others trying to enter the market later. It's important to note, however, that being the first mover does not guarantee success, as it comes with its own risks and challenges.