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Question
After much experimentation and trial and error, TechSmart launched a GPS-enabled shoe into the market. It was the first company to introduce such footwear. Later, several other firms also began to offer similar shoes. Which of the following is most likely to be true for TechSmart?
a. TechSmart had incurred significant research and development expenses.
b. TechSmarts ability to exploit monopoly rents will be low.
c. TechSmart will be able to exploit incumbent inertia of the late entrants.
d. TechSmart had to invest less on establishing distribution channels and generating consumer awareness, compared to firms that entered the market after it.
Answer
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