Which of the following is an advantage for product pioneers in new product introductions?
A)They make high profits as soon as they enter a market.
B)They become readily recognizable to consumers.
C)They have to share a market with very few competitors that have monopoly power.
D)They always succeed in a marketplace because of lack of competition.
E)They need not focus on creating demand for a product category.

Question

Quizplus · Accepted Answer

Being the first to introduce a product often allows pioneers to become highly recognizable and establish brand recognition early, which can be a significant advantage in the market.

Which of the Following Is an Advantage for Product Pioneers