An opportunity that makes it possible for a new business to gain a foothold in a market is referred to as a(n)_____.
A) parallel competition
B) incremental innovation
C) differentiation strategy
D) entry wedge

Question

Quizplus · Accepted Answer

An entry wedge is an opportunity that makes it possible for a new business to gain a foothold in a market. It could be a gap in the market, a new technology or innovation, or a unique selling proposition that sets the new business apart from existing competitors. Parallel competition refers to businesses that operate in the same industry and offer similar products or services. Incremental innovation involves making small improvements or changes to existing products or services. Differentiation strategy involves setting the business apart from its competitors with a unique value proposition.

An Opportunity That Makes It Possible for a New Business