First Mover Advantage Quiz

What is a key characteristic of the first mover advantage?

• Increased brand recognition

• Lower customer loyalty

• Decreased brand recognition

• Increased competition

Which of the following is a benefit of being a first mover?

• Decreased customer loyalty

• Limited supplier options

• Defining industry standards

• Higher production costs

How can first movers benefit from retailer relationships?

• By having fewer stores to work with

• By establishing exclusive contracts with all retailers

• By building strong relationships with a wide range of retailers

• By avoiding retailer partnerships

Which company is an example of a successful first mover?

• Starbucks

• Amazon

• Google

• Southwest Airlines

What was Volkswagen's first mover advantage in China?

• Being the first to sell electric cars

• Establishing a joint venture with Shanghai Auto Works

• Being the first to sell luxury cars

• Offering the cheapest cars

What is a major risk of being a first mover?

• Lower production costs

• Decreased brand recognition

• Increased customer loyalty

• Helping competitors

Why might a first mover rush the design process?

• To be the first to market

• To ensure the highest quality product

• To reduce production costs

• To avoid legal issues

Which company was not a first mover but became a leader in its industry?

• Volkswagen

• Microsoft

• Amazon

• Google

How did Starbucks differentiate itself in the coffee market?

• By focusing on being a go-to place outside home or office

• By selling only organic coffee

• By offering the cheapest coffee

• By being the first coffee shop

What is a common misconception about the first mover advantage?

• It can lead to increased brand recognition

• It involves high initial costs

• It guarantees long-term success

• It requires significant marketing efforts