Explain the Difference Between a First-Mover and a Second-Mover Strategy

question 221

Essay

Explain the difference between a first-mover and a second-mover strategy.Give examples of companies that have followed each strategy.

Appreciate the role of distribution channels in international markets.

Understand the importance of location for service businesses that visit the customer.

Know the significance of traffic volume, vehicle speed, and parking availability in business location choice.

Comprehend the role and benefits of incubators for new small businesses.

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Definitions:

Spreading Activation

A method for searching associative networks, neural networks, or semantic networks, where a stimulus activates specific nodes, which in turn activate related nodes.

Semantic Network

A conceptual model in cognitive psychology and artificial intelligence that represents semantic relations between concepts in networks.

Prospective Memory

The aspect of memory that involves remembering to perform a planned action or recall a planned intention at some future point in time.

Semantic Encoding

The process of encoding information according to its meaning to help in its retention and retrieval from memory.