First movers typically invest more in exploratory research than late entrants.

Question

Quizplus · Accepted Answer

First movers have to invest more in exploratory research to identify market needs, uncover potential barriers to entry, and develop novel technologies that can differentiate their products from existing alternatives. Late entrants can leverage the knowledge and insights already produced by first movers, reducing the need for costly experimentation and trial-and-error learning.

First Movers Typically Invest More in Exploratory Research Than Late