Strategy - Strategic choices - Innovator or follower
4 important questions on Strategy - Strategic choices - Innovator or follower
What are the 2 types of timing to entrance the market?
- First mover (innovator)
- Follower
What are the advantages for a first mover?
- Set the industry standard
- Create barriers to entry
- File patents
- Obtain technological leadership
- Exclusive right to shelf space
- Benefit from experience and scale effects
- Establish brand loyalty
- Create buyer switching costs (windows naar apple is duur)
What are the disadvantages of a first mover?
- Invest more
- More risk: consumer doesn't know the product, market is not educated
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What are the advantages for followers?
- Free-rider effect
- Technological or market uncertainty has been resolved
- Government intent to introduce regulations against unwanted monopolies
- Acces to similar sources if not restricted
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
