Question

Sun Energy is the first hydro-based energy plant in Australia, and it has captured a large portion of the market. It has created a strong brand name that everyone associates with energy efficiency and cost savings. In this market, Sun Energy is demonstrating

Answer 1

Answer: First mover advantage

Explanation:

First mover advantage is a marketing term which means the advantage a firm gains because it is the first major occupant of a particular product in the market. First-mover advantage can be gained through technological leadership and the early purchase of the resources required for the production of the good which therefore enables the firm gain competitive advantage over others.

Sun energy has captured a lot of the market because it's the first hydro based energy plant. This is an example of a first mover advantage.