Which of the following is an example of a first-mover advantage?
A. The ability to create switching costs that tie customers into one's products or services
B. The avoidance of pioneering costs that a later entrant into the foreign market has to bear
C. The increased probability of surviving in a foreign market
D. The opportunity to observe and learn from the mistakes of other entrants
E. The ability to let later entrants ride ahead on the experience curve
A
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On June 15, 2010, Wynne Corporation accepted delivery of merchandise which it pur-chased on account. As of June 30, Wynne had not recorded the transaction or included the merchandise in its inventory. The effect of this on its balance sheet for June 30, 2010 would be
a. assets and stockholders' equity were overstated but liabilities were not affected. b. stockholders' equity was the only item affected by the omission. c. assets, liabilities, and stockholders' equity were understated. d. none of these.
Explain the responsiveness strategy as an approach to product or service development
What will be an ideal response?