Asked by Maegan Neuman on Jun 23, 2024

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A firm using the follower strategy will most likely enter the market with a(n) ________.

A) new product that has never been seen
B) product sold domestically and abroad
C) improved version of an existing product
D) adaptation of an online international product

Follower Strategy

A market approach where a company chooses to enter a market by following in the footsteps of pioneers, often adapting and improving existing products or services.

Existing Product

A product that is already available in the market, as opposed to a new or forthcoming product.

Improved Version

An updated iteration of a product that is enhanced to offer better performance, additional features, or other improvements over the original.

  • Recognize the advantages and disadvantages of pioneering and subsequent entry strategies in penetrating markets.
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Ogechukwu Ki-OnwusiJun 24, 2024
Final Answer :
C
Explanation :
A firm using a follower strategy will enter the market with an improved version of an existing product. The aim of this strategy is to emulate and/or build on the success of the leader. It is therefore unlikely that the firm will introduce a completely new product or adapt an online international product that has never been seen before. The focus is on improving an existing product to capture a share of the market. Domestic or international sales are not necessarily a defining factor in this strategy.