this type of first mover strategy enabled companies such as ebay and etsy to gain a dramatic competitive advantage over in the marketplace by inventing a new market segment. this type of strategy is referred to as

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10-11-2022
Business

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this type of first mover strategy enabled companies such as ebay and etsy to gain a dramatic competitive advantage over in the marketplace by inventing a new market segment. this type of strategy is referred to as

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sapanpandit sapanpandit · Answer 1 · 2022-11-16T06:52:31+01:00

This type of strategy is referred to as the first mover strategy.

A first mover is a service or product that, by being the first to market with a product or service, acquires a competitive advantage. Being the first usually allows a business to build significant brand awareness and customer loyalty before rivals enter the market.

The first-mover advantage is a benefit received by a business that releases a good or service on the market first. Before other market entries, a company can build significant brand awareness and customer loyalty by taking advantage of the first-mover advantage.

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