This is especially the case in the present times when the 24/7 continuously on market landscape needs constant vigilance and agility to sense market trends and respond to rivals and competitors before they undercut you. First Movers and Upstarts in a 24/7 World If not anything, the experiences of once invincible firms who were the first movers being dethroned by newer and more flexible firms teaches us that while first movers do enjoy certain advantages, they should not take their market dominance for granted. Indeed, this is what happened to the pioneer of Smartphones, Blackberry, which feeling comfortable in its market dominance failed to sense and intuit how the iPhone and its later competitors would pull the rug under its feet and render it obsolete.
However, this is not to mean that they can become complacent as experience has shown that firms that are usually the first often become lethargic and tardy in their marketing strategies to be outdone by nimble and agile startups and competitors who often mimic the strategies of the first movers and beat them at their own game. Why First Movers Should Not Become Complacent In other words, the first mover firms often can realize significant benefits from entering markets before anyone else since the absence of competition means that they are not under time pressure or market pressure to respond. Moreover, first movers also tend to benefit from a captive consumer segment, who because of lack of alternatives, tend to buy the goods and services from the first mover firms.įirst movers also have the bandwidth to assess future strategies without being bogged down by pressure from competitors. The first mover advantage is significant to firms as when they enter a market before anyone else they have the time to understand market movements and market trends as well as the luxury of determining the appropriate market strategies.
#First mover software
In addition, again Steve Jobs was the first to realize the power of the Smartphones and struck a Double Whammy by launching the iPhone that combined the awesome power of mobile computing with that of the amazing power of the software or the operating system, iOS.
#First mover mac
Indeed, as can be seen from the examples of the Big Tech Firms, being first and being early had their positives.įor instance, Bill Gates launched his Personal Computer innovation much before anyone else, though the Late Steve Jobs had already started with his Mac series. The first mover advantage is a term which means that whoever moves first and enters a market or launches a product way before others, or patents an invention before anybody does, has certain and significant advantages in terms of exploiting the unsaturated markets and reaping the benefits of a captive consumer base at least for the initial years or months before competition from other firms arises. In business, as in life, being early and being first to launch products, enter markets and an agile and flexible approach to being there first matters.Īs the saying goes, The Early Bird Catches the Worm, the first mover advantage is indeed significant and matters to everyone, including businesses, government, and individuals.
0 kommentar(er)
