An opportunity that makes it possible for a new business to gain a foothold in a market refers to
A)parallel competition.
B)incremental innovation.
C)entry wedge.
D)altruism.

Question

Quizplus · Accepted Answer

An entry wedge is an opportunity that allows a new business to enter and establish a foothold in a market. It could be achieved through factors such as unique features, pricing, or distribution strategies that give the new business an advantage over the existing competition. Option A, parallel competition, refers to businesses that offer the same products or services within the same market, and is not directly related to gaining a foothold. Option B, incremental innovation, refers to making small improvements to existing products or services, whereas entry wedge is more related to a new business entering a market. Option D, altruism, refers to selflessness and helping others, which is not related to gaining a foothold in a market.

An Opportunity That Makes It Possible for a New Business