In emerging industries _________. a. product-differentiation efforts are focused on product refinement as a basis of product differentiation. b. firms that are first movers can gain product-differentiation advantages based on perceived technological leadership. c. firms can sometimes be tempted to exaggerate the extent to which they have refined and improved their products and services. d. firms that are first movers are unlikely to gain product-differentiation advantages based on buyer loyalty and high switching costs.

Companies which are first movers generally take a competitive advantage over other companies based on experience, technology and first-mover advantage. First movers usually control the market and that makes it hard for other companies to enter the market. Perceived technology helps such companies to gain more customers and their trust which leads them to take the maximum market share possible.