First-mover advantage refers to:

Question

BrainForge Quiz · Accepted Answer

B) Benefits gained by the initial significant entrant into a market, like brand recognition and customer loyalty. First-mover advantage: early market entry can yield brand loyalty, switching costs, resource preemption, and technological leadership. But risks include market uncertainty and free-rider effects.

First-mover advantage refers to:

✓ Correct Answer: Option B

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