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10 May, 09:03

Larry's lizards and ronaldo's reptiles are competing pet store franchises. both are considering opening a store in the small town of turtleville. if ronaldo's opens a profitable store in turtleville and larry's management determines that it is not profitable to also open a store, then:

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  1. 10 May, 09:36
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    The correct answer to this would be:

    then "Ronaldo's had a first mover advantage in this kind of game".

    A first mover is a term in business which describes a certain competitive advantage a firm gets by virtue of being the first to bring the product or service to the people in that area. In this case, Ronaldo’s reptiles had already established strong brand recognition in Turtleville and got customer loyalty before Larry’s lizards. Since the two firms are selling the same products and services, then this gives Larry’s management a concrete reason not to open a store in that area.

    However this is not always the case, the first mover can possibly be stomped over by the succeeding firms especially if those next firms are excellent.
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