What is first mover advantage?
A) The concept that the first in the market will make the most money
B) The concept that a firm who exploits an opportunity before others has an advantage
C) The concept that there is an advantage in leaving a market when it becomes flooded
D) The concept that large organizations cannot take advantage of an opportunity as quickly as an entrepreneur
E) The concept that there is more risk being first, but also more reward, if successful

Question

Quizplus · Accepted Answer

First mover advantage refers to the benefit gained by a company that is the first to enter a new market or exploit a new opportunity. This can include factors such as brand recognition, customer loyalty, and securing key resources. Therefore, choice B is the correct answer.

What Is First Mover Advantage