Question

If a startup pioneers an industry or a new concept within an industry, the name recognition the startup establishes may create a formidable nontraditional barrier to entry referred to as a(n):_____.A) unique business modelB) aggressive supremacyC) competitive superiorityD) first-mover advantageE) aggressive tactical advantage

Answer 1

Option D

If a startup pioneers an industry or a new concept within an industry, the name recognition the startup establishes may create a formidable nontraditional barrier to entry referred to as a(n): first-mover advantage

Explanation:

The first-mover advantage commits to a benefit obtained by a company that prime proposes a commodity or service to the business. The first-mover advantage enables a company to build powerful brand recognition and product/service reliability ere other competitors.

First movers in an industry are nearly constantly supplanted by opponents that strive to gain on the first mover's success and grow market share. The limitations of first movers cover the chance of products being duplicated or enhanced upon by the opposition.