Question

An organization's loyalty to its own product is a competitive disadvantage in a ____ market.

a. slow-cycle
b. standard cycle
c. intermediate cycle
d. fast-cycle

Answer 1

An organization's loyalty to its own product can be a competitive disadvantage in a fast-cycle market.

Step-by-step explanation:

In the context of competitive markets, an organization's loyalty to its own product can be a competitive disadvantage in a fast-cycle market. Fast-cycle markets are characterized by rapid technological change and short product life cycles.

In such markets, organizations that are too focused on their own product may struggle to adapt quickly to new trends and technologies. Their loyalty to their own product can make them slower to respond to market changes and customer preferences, putting them at a competitive disadvantage.

For example, let's say there is a fast-cycle market for smartphones. If an organization is highly loyal to its own smartphone model and fails to innovate or adapt quickly to new technologies and features, it may lose market share to competitors who are more responsive to the changing demands of customers. Thus, an organization's loyalty to its own product can be a competitive disadvantage in a fast-cycle market.