Management Glossary

  Search Results: first-mover advantage
first-mover advantage
The extreme case of an early-mover advantage. As an example of a first-mover advantage, the company that introduces a totally new category of product or service may be able to define that market in prospective customer's minds. The first-mover's brand will then be top of mind when customers go looking for a product in that category. (In such a case, customers may even start referring to the whole category by the fist-mover's brand. For example, referring to all facial tissues as "Kleenex" despite the fact that Kleenex is only one brand in the facial tissue category. Or, in the early days of photocopying, people often talked about Xeroxing a document, regardless of which brand of photocopiers was used to do the job)
Contributed by: ManagerWise Staff
See: early-mover advantage, late-mover advantage

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