Explain the Term "First Mover" and Then Identify the Strategic

question 82

Essay

explain the term "first mover" and then identify the strategic advantages and disadvantages of being a first mover in the market.

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Definitions:

Incentive Theories

Psychological models which suggest behavior is motivated by a desire for rewards and avoidance of punishments.

External Stimuli

Elements in the environment that influence behavior or responses, such as light, noise, or temperature.

Physical Attractiveness

Physical attractiveness refers to the degree to which a person's physical traits are considered aesthetically pleasing or beautiful, often influenced by cultural and social norms.

Happiness

A state of well-being and contentment, characterized by positive emotions ranging from contentment to intense joy.