Which of the Following Statements About Pioneers and Followers Is

question 192

Multiple Choice

Which of the following statements about pioneers and followers is false?

• A) A pioneer is the first to market with a new product idea.
• B) On average, pioneers are usually more profitable than followers.
• C) Second movers typically have a strong customer-focus.
• D) Second movers that respond quickly build market share in the market growth stage.
• E) None of these choices is false.

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Definitions:

Manufacturing

The process of turning raw materials into finished products through various methods, including human labor, machinery, and chemical processing.

CPI

The Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, calculated by taking price changes for each item in the predetermined basket of goods and averaging them.

Real Wages

The purchasing power of wages, adjusted for inflation, indicating the quantity of goods and services that can be bought with a unit of labor.

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, used as an indicator of inflation.