First-mover advantage - Wikipedia

Consider the case of Life Savers candy. To consumers, the brand name is synonymous with the hard round candy that has a hole in the middle. Nonetheless, the company introduced a Life Savers chewing gum. This use of the Life Savers name was not consistent with the consumer's view of it, and the Life Savers chewing gum brand failed. The company later introduced the first brand of soft bubble gum and gave it a new name: Bubble Yum. This product was very successful because it not only had a name different from the hard candy, it also had the the advantage of being the first soft bubble gum.

first mover advantage - Investopedia

First-Mover Advantage is an idea that just won't die

First-move advantage in chess - Wikipedia

When a company can choose whether to be a pioneer or a late mover, the expected life of the product category is important. When that period is likely to be short, the advantage goes to the pioneer, because the product’s life cycle probably will not extend much beyond the early period, when competition is weak and most of the profit is made. (An example is the market for Y2K solutions software in the late 1990s.) When switching from one brand to another would be expensive, the advantage also goes to pioneers, since they can create a kind of monopoly among established customers, while late movers are left competing for just the new customers.

first mover advantage | Murmurs About Town

Late movers have a competitive advantage, too, when the cost of imitating a product is low. For example, “imitation costs” in the chemical, ethical drug, electronics and machinery industries are about two-thirds the product development costs that pioneers incur, according to one study. (This advantage can be neutralized when a product is protected by patents, making the cost of imitation higher.)

The 'First-Mover Advantage' in Africa - Privcap

The easiest way of getting into someone's mind is to be first. It is very easy to remember who is first, and much more difficult to remember who is second. Even if the second entrant offers a better product, the first mover has a large advantage that can make up for other shortcomings.

first mover advantage Study Sets and Flashcards | Quizlet

With this point in mind, there are certain things that a market leader should do to maintain the leadership position. First, Ries and Trout emphasize what it should not do, and that is boast about being number one. If a firm does so, then customers will think that the firm is insecure in its position if it must reinforce it by saying so.

Essay about First Mover Advantage - 14970 Words

Pioneering and late-moving companies both have distinct advantages. Making smart decisions means knowing why many pioneers fail, why many late-movers succeed, and whether your situation favors pioneering or entering the market late.

The first-mover advantage myth - Financial Times

There is a certain mystique to being the first. We remember and honor innovators and first achievers in countless fields—first in flight, first to walk on the moon, etc. Yet being the pioneer of a product category hardly guarantees that a company will enjoy enduring success. One study showed, in fact, that pioneers were more successful than late movers in just 15 of 50 product categories.