The benefits of being a first mover are most substantial in fast cycle markets.

Question

Quizplus · Accepted Answer

In fast cycle markets, being a first mover can give a significant advantage over competitors who enter later. This is because the market is constantly changing and evolving, so the first mover can establish themselves as the market leader and innovate quickly to stay ahead. In slower cycle markets, the advantages of being a first mover may not be as significant, as there is more time for competitors to catch up and the market may not change as rapidly.

The Benefits of Being a First Mover Are Most Substantial