First Mover Advantage Quiz

What is a key characteristic of the first mover advantage?

• Immediate profitability

• Guaranteed market dominance

• Lower production costs

• Increased brand recognition

Which of the following is a benefit of being a first mover?

• Limited supplier options

• Ability to define industry standards

• Higher initial costs

• Increased competition

How can first movers benefit from retailer relationships?

• By offering lower prices

• By having exclusive shelf space

• By reducing marketing costs

• By avoiding competition

What advantage did Amazon gain by being a first mover?

• Significant brand recognition

• Monopoly on online sales

• Exclusive publishing rights

• Lower shipping costs

What was Volkswagen's first mover advantage in China?

• Exclusive government contracts

• Cheapest production costs

• First western auto manufacturer presence

• Largest variety of car models

What is a major risk of being a first mover?

• Helping competitors by setting industry standards

• Increased legal challenges

• Guaranteed market failure

• Immediate loss of market share

Why might a first mover rush product design?

• To be the first to market

• To reduce costs

• To avoid competition

• To improve quality

Which company was not a first mover but became a leader in its industry?

• Amazon

• Volkswagen

• Google

• IBM

How did Southwest Airlines succeed as a late entrant?

• By offering luxury flights

• By focusing on short-haul flights

• By expanding internationally

• By reducing ticket prices

What strategy did Starbucks use to become successful?

• Expanding rapidly overseas

• Creating a 'third place' experience

• Focusing on home delivery

• Offering the cheapest coffee