Do firms benefit from being a first mover That is independen

Do firms benefit from being a first mover? That is, independent of the quality of their product or other marketing efforts, is there an inherent and sustainable benefit to having been first to market?

Solution

Yes ,many a time s being a first mover brings in lot of advanatges

In continuation to your question , there are some inherent benefits to have been first to market

1.It creates uncontested market space

2.It empowers you through tools and techniques

3.Since being the first to take risk, it maximise oppurtunities ,you can also call it an advantage for the risk taken

4.It pursues differentiation and low cost