Even where imitation is possible, a firm may gain advantage from being the first to introduce an innovative product because of
A)long-lasting brand-name recognition.
B)a time lag between innovation and imitation by rivals.
C)trade secrets that limit the ability of rivals to exactly imitate the product.
D)all of the other answers are correct.

Question

Quizplus · Accepted Answer

All the options listed are advantages that a firm can gain from being the first to introduce an innovative product. Brand-name recognition, time lag in imitation, and trade secrets can all contribute to maintaining a competitive edge.

Even Where Imitation Is Possible, a Firm May Gain Advantage