As the pioneer that perfected potato dehydration, Walnut Creek, Calif. - based Basic American Foods maintains a leading
position in the marketplace because it continuously looks for innovative ways to improve the quality and convenience of its products for the benefit of its consumer foods and foodservice clientele, President and CEO Loren Kimura says.
s the pioneer that perfected potato dehydration, Walnut Creek, Calif. - based Basic American Foods maintains a leading
position in the marketplace because it continuously looks for innovative ways to improve the quality and convenience of its products for the benefit of its consumer foods and foodservice clientele, President and CEO Loren Kimura says.
In all of the above cases the entrepreneur who is susceptible to the confirmation bias will look for information and analyze it in a way that will yield: 1) fewer competitors rather than more, because it increases the viability of the start - up, 2) underestimation of the capabilities of the competition because stronger competitors will make life harder for the entrepreneur, 3) view of the company's product as fully addressing the needs of the customer because otherwise the start - up is at a weaker position in the marketplace, and 4) need for less resources rather than more because it generally makes raising the money easie
In all of the above cases the entrepreneur who is susceptible to the confirmation bias will look for information and analyze it
in a way that will yield: 1) fewer competitors rather than more, because it increases the viability of the start - up, 2) underestimation of the capabilities of the competition because stronger competitors will make life harder for the entrepreneur, 3) view of the company's product as fully addressing the needs of the customer because otherwise the start - up is at a weaker position in the marketplace, and 4) need for less resources rather than more because it generally makes raising the money easie
in a way that will yield: 1) fewer competitors rather than more,
because it increases the viability of the start - up, 2) underestimation of the capabilities of the competition
because stronger competitors will make life harder for the entrepreneur, 3) view of the company's product as fully addressing the needs of the customer
because otherwise the start - up is at a weaker
position in the marketplace, and 4) need for less resources rather than more because it generally makes raising the money easie
in the
marketplace, and 4) need for less resources rather than more
because it generally makes raising the money easier.
Because no single retailer, no matter how effective, no matter how much first mover advantage they have, can hold a completely dominant
position in the
marketplace if the barriers to entry by competitors are low and the competitive
marketplace is broad.