Ent3613 u Study guides, Class notes & Summaries

First-Movers The first entrants to sell in a new product or service category. Early Followers Entrants that are early to market, but not first. Late Entrants Entrants that do not enter until product/service is penetrated mass market. Monopoly Rents The additional returns (either higher revenues or lower costs) a firm can make from being a monopolist, such as the ability to set high prices, or the ability to lower costs through greater bargaining power over suppliers. Incumbent Inertia Th...