..Timing can be crucial – a technology that is adopted earlier than others may reap self-reinforcing advantages such as greater funds to invest in improving the technology, greater availability of complementary goods, and less customer uncertainty.
Entrants are often divided into three categories: first movers (or pioneers), which are the first to sell in a new product or service category: early followers (also called early leaders), which are early to the market but not first, and late entrants, which enter the market when or after the product begins to penetrate the mass market.
With the help of conceptual knowledge from Chapter 5 – Timing of Entry of your Textbook and research of your own, answer the following questions.
Question 1-Write a short note (200-250 words) on a successful and an unsuccessful example of each-
(a) First Mover (b) Early Follower (c) Late Entrant.(3 Marks)
Question 2- Does being a Frist Mover in a market always yield undisputedly beneficial results. (300 -500 words)
Support your answer with valid points from the Textbook and other references.(2 Marks)
NOTE: It is mandatory for the students to mention their references, sources and support each answer with at least 2 peer reviewed journal.