Sony was a pioneer in the portable music market segment. Sony's Walkman was an innovative product which created a new category altogether and made Sony a technological leader. This gave the company an edge over other consumer electronics brands that introduced portable music players for a very long time. In this example, Sony had the:
A. vertical integration advantage.
B. purchasing power parity advantage.
C. free-rider advantage.
D. first-mover advantage.
Answer: D