Question

Many firm choose to enter the market early to get a number of advantages including the opportunity to do monopoly of the business. What are some benefits of entering market early? There are opportunities to enter the market late. Why a firm may choose to enter into a market late?

Answer 1

there are some advantages of entering the market of early where the firm can get the first or early mover advantage and with this the company can actually grab a lot of market share by the time another new entrant enters the market and in this way it can flourish its business. Apart from that, can also get early profits and this can be used for innovation and development purposes to gain Economics of scale so that it could potentially drive the new entrants away from the market all in all.

Some of the opportunities in entering the market late is understanding the market that has been created by the earlier entrants and also not repeating the mistakes again so that they would be careful this time and capturing the market share and also they could understand behaviour of the people all in all and this is the reason why a firm can choose to enter the market late

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