Startups: Advantage or Fast Follower Strategy?
Mark Lemuel M
8 replies
This contrasts entering the market early to capture market share and establish a brand (first-mover) versus waiting for market trends to develop and learning from the successes and mistakes of early entrants (fast follower).
which will win in the long run?
Replies
Alexander Galitsky@ag94
Marc Zuckerberg will
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First-mover if you can, just be aware there's more risk
advantage strategy
Advantage strategy. Getting in early lets you set the standard and build brand loyalty before competition heats up.
Fast followers tend to refine and innovate better. They don’t have to spend time educating the market!
Depends on the industry, but I'd say first mover if you can scale fast enough. Otherwise, being second might actually pay off.