Ask Question
28 April, 17:21

Which of the following is true of first movers? a. The first mover cannot be able to establish brand loyalty. b. Being a first mover guarantees instant success. c. The first mover cannot create switching costs for its customers to deter rivals. d. The first mover that creates a revolutionary product is in a monopoly position. e. The first mover has no opportunity to exploit network effects and positive feedback loops.

+2
Answers (1)
  1. 28 April, 17:47
    0
    The first mover that creates a revolutionary product is in a monopoly position.

    Explanation:

    First Mover is the big initiator of a new product, which gains a competitive 'first mover advantage' for being the pioneer of the idea in the market.

    The first mover can be able to establish brand loyalty Being a first mover doesn't guarantee instant success The first mover can create switching costs for its customers to deter rivals.

    The only apt statement is : The first mover that creates a revolutionary product is in a monopoly position. The first mover enters the market when there is no major supplier & the customer's demand is unmet. If it enables to leverage the potential huge unsatisfied market in a revolutionary way, it can be able to create unparalleled brand loyalty. And this can make it secure monopoly position in market
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which of the following is true of first movers? a. The first mover cannot be able to establish brand loyalty. b. Being a first mover ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers