Asked by Durgesh Kumar on Jun 03, 2024
Verified
Customer loyalty,patented technologies,and managerial know-how are market entry barriers that affect both small and large firms.
Patented Technologies
Technologies protected by patents, prohibiting unauthorized use, reproduction, or distribution.
Managerial Know-How
The practical knowledge and ability needed by individuals to effectively manage and lead organizations.
Customer Loyalty
A customer's commitment or repeat business to a single brand or company over time, influenced by positive experiences and satisfaction.
- Recognize the role of market entry barriers and how they affect industry dynamics.
Verified Answer
NP
nitin patelJun 09, 2024
Final Answer :
True
Explanation :
Customer loyalty, patented technologies, and managerial know-how are all examples of intangible assets that can create market entry barriers for both small and large firms. These barriers can make it difficult for competitors to enter the market and can provide a competitive advantage for firms that already have these assets in place. Therefore, the statement is true.
Learning Objectives
- Recognize the role of market entry barriers and how they affect industry dynamics.