Final answer:
Local brands do not enjoy a pioneering advantage by being the first ones in the market. The given statement is false.
Step-by-step explanation:
No, local brands do not enjoy pioneering advantage by being the first ones in the market. This is because being the first alone does not ensure success in the market. Local brands may face challenges from larger and more established competitors, who have better products or cheaper prices. Additionally, a firm's success in the market depends on several factors like product quality, marketing strategies, and customer demand.
Even if a local brand is the first in the market, it can still face competition from other brands that offer better or cheaper alternatives. These competing brands may have larger advertising budgets, making it difficult for the local brand to gain market share. The mere fact of being the first does not guarantee long-term success without effectively addressing these challenges.