Advantage of being unique and new

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The first movers in a market have an advantage of being unique and new. Other competitors could only get in the market later than them. Not all first movers are successful but most of the time as long as they make a name for them self with the first product they tent to do well. Not so lucky first movers are social media page myspace compare to Facebook which come years later and is now billions of dollars' worth. Apple had a first mover advantage with the iPhone over other companies . Before apple created the first apple touch screen iPhone there was no computation. They established a firm foundation on the smart phone market. Their unique innovation captured the hearts of their costumers and their constant innovation keeps costumers coming back to the brand. Even though right now there are so many other smart phone competitors they still cant win against apple because of the costumers brand loyalty.

(Thoughts on this post, if given an example will be great!!)

Reference no: EM132609541


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