First-Mover Advantage
The competitive advantage gained by being the first to enter a market, often resulting in brand recognition and customer loyalty before competitors arrive.
Implications
The competitive edge gained by being the first company to enter a particular market or industry, often allowing the first mover to establish strong brand recognition, customer loyalty, and a significant market share before competitors arrive.
Example
Example: A social media platform gains first-mover advantage by launching the first widely-adopted platform in its category, becoming the dominant player and making it difficult for new entrants to compete.
Related Terms
Different from late entrants, who may enter the market with better technology or lower prices, first movers benefit from early brand establishment and market dominance.
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