Asked by Maegan Neuman on Jun 23, 2024
Verified
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.
Verified Answer
Learning Objectives
- Recognize the advantages and disadvantages of pioneering and subsequent entry strategies in penetrating markets.
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