What are the three phases in the evolution of CRM O a Recenc

What are the three phases in the evolution of CRM? O a Recency, analytical, processes Ob Reporting, analyzing, predicing O c Recency, analyzing, predicting Od None of the above QUESTION 17 When an organization achieves a first mover advantage, this essentially means: It helps determine the buyers ability to directly impact the price they are willing to pay for an item b An organization can significantly impact its market share by being first to market with a competitive advantage ONone of the above a. dEnsuring online payments are secure from hackers

Solution

This is the answer for the question 17, the answer is (b).

When an organization achieves a first mover advantage, this essentially means that an organization can significantly impact its market share by being first to the market with a competitive advantage.

Before going in detail, let me tell you, what a first mover advantage is, you might have heard of a saying “The early bird catches the worm”. The same saying can be well applied in marketing strategy also. If an organization or a frim or a company is first of its kind to establish or settle itself in an industry or a market, then is called first-mover. This first mover gains a lot of competitive advantege over its competitors in the market. Because they establish themselves very well much before their competitors enter the industry or the market.

The main advantage of first mover is that they have very high potential to make deep rooted impression or impact on the customers or the consumers, and their brand name will be highly recognized.

Some of the best examples of first movers are:

1. Xerox: which started photocopying, and dominated the market for more than 15 years with competitive advantage, eventually the name \"XEROX\" itself became synonym of photocopying.

2. Apple: Which introduced the real touch screen on electronic gadgets. Apple continues to enjoy its competitive advantage in the market because of its innovation and new and unique features in its gadgets. That\'s why many customers buy products of Apple company, although the Apple products are very expensive compared to other players in the market.

In the above given question, option (a) is not correct, because being a first mover, it will not help in determining the buyers ability to directly impact the price they are willing to pay for an item.

Option (b) is correct, because being a first mover, an organization can significantly impact its market share by being first to market with a competitive advantage. You can take the example of Apple Company mentioned above.

Option (c) is not correct, because the answer given in option (b) is correct

Option (d) is not correct, because an organization being a first mover, cannot ensure the security of online payments from hackers.