What are the advantages and disadvantages of being a first m

What are the advantages and disadvantages of being a first mover in an industry? Give some examples of first mover and late mover firms. Were they successful?

Solution

yes,, i will let you know.

if you are the first mover in the market there are many facilites you can enjoy and get benefited. best example is:

three years back, in Indian telecommunications market, TATA DOCOMO was introduced a strategy called pay for what you speak, why should unnecessarily pay. the practice was, secon pulse for the calls. for each secon only you need to pay, it is not the way of minute pulse. the remaining players were charged call rates per minute. if the caller speaks only for 15 or 20 seconds, he has to pay bill for one minute.

to eliminate this process they were introduce the second pulse system and they were huge success at that time. around 70% of the new customers were preferred to with DOCOMO out of 100 at that time. they were anjoyed the market being an unique player for a period of around one year.

the remaining players started the same practice later and they are not benefited that much.

so, once if you introduced a succesfull strategy into the market initially, you are going to be get huge benefit from the market.