First Mover Advantage
First Mover Advantage Meaning:
The advantage secured by being the first company to move into a new market. The advantage might arise because the first-mover is able to secure resources that are then denied to later entrants into the market.
The advantage secured by being the first company to move into a new market. The advantage might arise because the first-mover is able to secure resources that are then denied to later entrants into the market.
Being the first-mover does not guarantee an advantage, as first-movers are not always able to capitalize on being the first. Apple was far from the first company to produce a portable MP3 player for example, but their success greatly outstripped that of other companies who had entered the market earlier.