- first-mover advantage and residual benefit
- one’s superiority as a starter and latecomer advantage
- What the dominant design will be is luck, so a predecessor who enters before it is clear bears that risk.
References http://www.sanosemi.com/biztech/document/first-mover_vs_follower.pdf The costs paid by the first mover are called pioneer costs. Porter, Strategies for Competitive Advantage, p.235
- (1) Obtain regulatory approvals from administrative authorities
- (2) Achievement of legal code compliance
- (iii) Buyer education
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- Development of infrastructure infrastructure such as service facilities and training
- (5) Development of needed inputs such as raw material sources and new types of machinery
- (6) Investments in the development of complementary products
- High cost of initial resource early inputs due to scarcity of supply or small scale of needs
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