Final answer:
The strategy characterized by entering multiple markets for high potential rewards and spread risk is the diversification strategy. In a market with high entry barriers, innovative features, mergers, aggressive marketing, and strong customer service are potential tactics for success.
Step-by-step explanation:
The strategy that tries to enter as many markets as possible, is high-risk and high-reward, and allows a company to collect profits from several markets while being ahead of the competition is known as a diversification strategy. This approach involves expanding into new segments, industries, or markets that are not currently served by the company. It enables the firm to have multiple streams of income and spread its risks across different products or markets. However, it also entails challenges such as managing a more complex range of products or services and the possibility of overstretching company resources.
In the context of developing a product like a web browser in a market with significant barriers to entry, a company might use a combination of strategies. These could include innovative features that differentiate from competitors, partnerships or mergers with existing firms for quicker market access, aggressive marketing, and ensuring high-quality customer service to build a strong brand reputation.