Which of the following is an advantage of first movers?
A) They are not prone to mistakes.
B) They bear lower pioneering costs than later entrants do.
C) They only invest in the latest technology.
D) They do not run the risk of building the wrong resources as they are highly customer-focused.
E) They have an opportunity to exploit network effects and positive feedback loops.

Question

Quizplus · Accepted Answer

First movers have the advantage of being able to establish themselves in the market and create network effects and positive feedback loops, which can help them gain a competitive advantage over later entrants who will have a harder time breaking into the market.

Which of the Following Is an Advantage of First Movers