Late entrants usually enter the market only once the product has been adopted by the
mass market.

Question

Quizplus · Accepted Answer

Late entrants typically enter the market after the product has gained acceptance among the mass market. This is because they want to avoid the risks associated with introducing a new product to the market, such as the high costs of research and development, marketing and advertising, and potential low demand or market rejection. By waiting until the product has already gained popularity, late entrants can benefit from the established brand reputation, customer base, and distribution network, and focus on differentiating their products or offering lower prices to gain market share.

Late Entrants Usually Enter the Market Only Once the Product