In the $1980$s$,$ Professors Marvin B$.$ Lieberman and David B$.$ Montgomery of UCLA$$s Anderson School of Management examined the advantages and disadvantages of being the first firm to enter a product into the market. Three advantages they described included were:

Multiple select question.

The firm$$s employees will learn from experience how to use technologies and processes to develop the product.

Consumers often become accustomed to products that they adopt and a firm that attempts to compete must create a product that meets the specifications established by the initial entrants.

The organization focuses on a differentiation strategy while also seeking price leadership.

The first firm to enter the market has an opportunity to secure important raw materials and to develop necessary logistics lines ahead of any other competitors.