If your organization, product, idea, and solution cannot be first-to-market or first-to-mind then be first in a category, including categories that your firm establishes. This principle, or law, is best described as the principle of:

Question

Messiah Chaney

Business

20 January, 20:06

If your organization, product, idea, and solution cannot be first-to-market or first-to-mind then be first in a category, including categories that your firm establishes. This principle, or law, is best described as the principle of:

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Answers (1)

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Cesar Parker · Answer 1

If your organization, product, idea, and solution cannot be first-to-market or first-to-mind then be first in a category, including categories that your firm establishes. This principle, or law, is best described as the principle of: Category

Explanation:

The principle of Category refers to the strategy that is being followed by an organisation with the aim of attaining the first-mover advantage and also in gaining the market share. It is essential for the company to launch newer products in order to stay competitive.

First to market refers to the process of gaining the confidence from the consumers and that results in the gaining of market share. First to mind refers to the process of projecting your products or services in the minds of the consumers when they think to get similar products or services. These all comes under the principle of Category.