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About us...in the Sicilian newspaper
Man6636 - Summer A, 2008 - The class
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Groups of students in class
Man6636 - Summer A, 2008 - The class again!
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Thank you Maurizio
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Etna Valley and Etna HiTech
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Professor Faraci doing a lecture
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Back to back - The class of Man6636 on SummerB 2007
Back to back - The class of Man6636 on SummerA 2006
Back to back - The class of Man6636 on SummerB 2005
Back to back - The class of Man6724 on SummerB 2005
University of Catania (Italy)
The School of Business Economics and Management
6 comments:
First mover is the first entrant of a market segment. So it has major control on the resources compared to late comers. If it fails, there’s an opportunity for any other firm to gain second mover advantage.
Major advantages of being first mover:
- Required resources can be sufficiently acquired E.g. Prime Market Locations.
- Patents and trademarks can safeguard it from future competitions.
- Maintaining high barriers for new entrants.
- It can set the market standards and thus increase the brand reputation.
- Initial profits can be re-invested for future improvements.
Drawbacks for first mover are “cost” and “risk”.
First Movers sometimes fail to benefit from being first. They often face high R&D and marketing costs, which helps the second movers if they can replicate the product using existing technology.
Second Movers thus manage to obtain greater market share even if it enters late.
This state is called a “Fast Second” or “Fast Followers”.
Prashant Shah
The first mover advantage can give your company pioneering to help build the firm's image and reputation, early relationships with suppliers giving future cost advantage, ability to pre-empt others, higher position on the learning curve and ability to define industry standards.
Some of the disadvantages of being the first mover is the failure to notice and keep pace with changing market conditions, rapid technological changes can give competitors ability to leapfrog pioneer firm, skills of first mover can be imitated by late-movers, cost disadvantages from r&d and marketplace testing and research. The late mover can also steal the first movers employees who have been trained.
The first mover has an initial advantage in the market. However if a second mover can imitate the first mover and learn from any mistakes the first mover may have made, the second mover could gain a larger market share. The advantage of being the first mover may be protected by patents and trademarks, and by continuing to develop improvements and newer products, so that the competition is forced to constantly keep up with the first mover's actions.
First movers can sometimes be at a disadvantage because they are the ones taking all the risks. A second mover could come in after watching the first and learning from their mistakes. By closely monitoring the first mover, a second mover can take advantage by finding an even better and more efficient way to do the same thing.
Depending on the industry and the product, the first mover might be able to gain protection through legal means. Otherwise, second movers can learn from what the first mover did to save time and effort. Depending on the industry they can also save on R and D costs.
Todd Allen
The first mover will essentially make all of the mistakes the second mover will learn from. If they are not careful, they can make it very easy for the second movers to come in and "steal" all of their ideas. First movers have to invest in a lot of R&D which makes the second movers more knowledgeable and makes it very easy to move in. They are also so focused on their business that they are not as focused on what the market demand is. They sometimes have this misconception about themselves that they are the best and no one can possibly have a better idea or copy it better. Ego can be a big down fall.
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