Asked by Raymond Pittman on May 30, 2024
Verified
__________ is generated by exploiting a niche or entering a market before competitors.
A) Niche manipulation
B) Niche competency
C) Anticipatory market leadership
D) Anticipatory niche advantage
E) First-mover advantage
First-mover Advantage
The benefit gained by the initial significant occupant of a market segment, often allowing for the establishment of strong brand recognition and customer loyalty.
Niche Manipulation
Niche manipulation refers to the strategic actions taken by organizations or individuals to shape or adapt their specific segment of the market to gain a competitive advantage.
Anticipatory Market Leadership
A strategic approach where a company actively predicts future market trends and customer needs to position itself as a leader in innovation and service.
- Understand the significance and operations of strategic thinking and risk management in entrepreneurship.
Verified Answer
Learning Objectives
- Understand the significance and operations of strategic thinking and risk management in entrepreneurship.
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