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Mighty Mike's, a manufacturer of power tools for the home hobbyist, has seen its main competitor, MyTools, introduce a line of power tools that are smaller sized, lighter weight, and suitable for women and older hobbyists who have weaker hands than the typical male workshop hobbyist.Mighty Mike's is waiting to see whether MyTools' new line is a success.Mighty Mike's could be classified as a second mover.
Guerrilla Marketing
An advertising strategy that focuses on low-cost, unconventional methods aimed at obtaining maximum exposure for a product or brand.
YouTube
A digital platform that allows users to upload, share, and view videos.
Long-Term Relationships
Enduring connections or associations between individuals or entities characterized by mutual respect, loyalty, and ongoing commitment.
Investors
Individuals or entities that allocate capital to investments with the expectation of achieving a financial return.
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