Question

In the 1980s and 1990s, Neon Corp. was the most successful firm in the television market. The firm believed that its competitors would never be able to produce televisions that compared to their products' quality and price. As a result, it was unable to compete with the newer models of televisions that its Japanese competitors had begun to infiltrate the market with. Eventually, Neon lost its market leadership to its competitors. This scenario most clearly exemplifies the ________.

Answer 1

Icarus paradox

Step-by-step explanation:

The Icarus Paradox is an event where business suddenly fails after a brief success. Here are the factors that make a business successful and ultimately the product's failure.

So here correct answer is the Icarus Paradox because Neon Corp believes its competitor cannot produce low quality television. It proved that the Japanese manufacturer had fallen. This is why the Icarus Paradox.