A "Fast-Second Strategy" Means That a Dominant Firm in an Industry

question 229

Multiple Choice

A "fast-second strategy" means that a dominant firm in an industry

• A) uses just-in-time inventory control methods to speed production.
• B) cuts the development time for the introduction of a new product.
• C) lets smaller firms initiate new products and then quickly imitates the success.
• D) merges with the second largest firm in the industry to gain a larger market share.

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Definitions:

Imagination

The ability of the mind to be creative or resourceful, often referred to in contexts beyond legal or technical definitions.

Goods

Goods are tangible items that are manufactured or produced for sale or use, including consumer products, machinery, food items, and more.

Distinctive Mark

A unique symbol, logo, or brand that is used to identify and differentiate the goods or services of one entity from those of others.

Producer

A producer is an individual or entity that creates goods or services, often in the context of agriculture, manufacturing, or entertainment.