A Second Mover

question 49

Multiple Choice

A second mover:

• A) Is typically ineffective in its response to the first mover
• B) Attempts to provide a product with greater customer value than the first mover's product
• C) Usually incurs higher expenses than the first mover since it must engage in reverse engineering
• D) Typically has a higher survival rate than first movers which typically take greater risks

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Definitions:

Self-serving Bias

A common tendency for individuals to attribute their successes to internal factors while blaming external factors for their failures, which can affect self-assessment and behavior.

Attribution

The process of explaining events.

Causal Explanations

Attempts to reveal the reasons or causes behind events, behaviors, or conditions.

Halo Effect

A cognitive bias where an observer's overall impression of a person, brand, or product positively influences their feelings and thoughts about that entity's specific traits.