The Marketing of the First Ballpoint by Milton Reynolds Showed

question 173

Multiple Choice

The marketing of the first ballpoint by Milton Reynolds showed

• A) that first-mover advantages can make it more difficult for new firms to enter a market and compete against the first mover.
• B) that being the first firm to market a new product can result in a natural monopoly.
• C) that being the first firm to market a product may not lead to a long-lived advantage over later entrants into the market.
• D) how important it is to receive patent protection for a new product.

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Definitions:

Customer Satisfaction

A measure of how products or services supplied by a company meet or surpass customer expectation.

Productivity

The efficiency of production of goods or services, measured by the output per unit of input.

Community

A group of people living in the same place or having a particular characteristic in common.

Biases

Regular patterns of departure from normalcy or logical thinking in making judgments, leading to conclusions about others and circumstances in a way that lacks logic.