Under what conditions can firms gain first-mover advantages in an emerging industry?

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1 Companies that possess a competitive advantage in technology resources or talent can gain a firstmover advantage in an emerging industry By having access to the latest cuttingedge technology resources or talented personnel firms can gain an advantage over their competitors who are still trying to catch up 2 Establishing relationships with key suppliers and distributors can give firms a firstmover advantage in an emerging industry By forging strong relationships with suppliers and distributors firms can ensure that they have access to the resources they need when they are needed allowing them to stay one step ahead of their competitors 3 Investing in marketing to create brand recognition can help firms gain a firstmover advantage in an emerging industry By investing in marketing to create a recognizable brand identity firms can create a strong presence in the market and stand out from their competition 4 Being able to quickly scale production and operations can give firms a firstmover advantage in an emerging industry By having the ability to easily increase their production and operations firms can take advantage of opportunities before their competitors and gain a significant advantage 5 Having a substantial capital base to finance investments can help firms gain a firstmover advantage in an emerging industry By having access to a large pool of capital firms can make investments that can give them a competitive edge over their competitors 6 Implementing aggressive pricing strategies can give firms a firstmover advantage in an emerging industry By taking advantage of lower costs associated with being the first mover firms can offer competitive prices and gain an advantage over those who are coming in later 7 Establishing an early network of customers can give firms a firstmover advantage in an emerging industry By being the first to establish relationships with customers firms can gain a loyal customer base and a steady stream of revenue 8 Developing a comprehensive patent portfolio can give firms a firstmover advantage in an emerging industry By having a ...View the full answer

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