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Posted On: 10/23/2018 3:04:23 AM
Post# of 87336
What is First Mover Status
A first mover is a service or product that gains advantage by being the first to market. Being first typically enables a company to establish strong brand recognition and customer loyalty before competitors enter the arena. Other advantages include additional time to perfect its product or service and setting the market price for the new item.
Examples of businesses that obtained a first mover advantage include innovators such as Amazon and eBay. Amazon created the first online bookstore, which was immensely successful. By the time other retailers established an online bookstore presence, Amazon had achieved significant brand name recognition and parlayed its first-mover advantage into marketing a range of additional, unrelated products. eBay built the first meaningful online auction site in 1995.
https://www.investopedia.com/terms/f/firstmover.asp
A first mover is a service or product that gains advantage by being the first to market. Being first typically enables a company to establish strong brand recognition and customer loyalty before competitors enter the arena. Other advantages include additional time to perfect its product or service and setting the market price for the new item.
Examples of businesses that obtained a first mover advantage include innovators such as Amazon and eBay. Amazon created the first online bookstore, which was immensely successful. By the time other retailers established an online bookstore presence, Amazon had achieved significant brand name recognition and parlayed its first-mover advantage into marketing a range of additional, unrelated products. eBay built the first meaningful online auction site in 1995.
https://www.investopedia.com/terms/f/firstmover.asp
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