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entrepreneurial marketing challenge and nigeria`s vision 2020
entrepreneurial marketing challenge and nigeria`s vision 2020

... In business environments, business leaders have to unlearn traditional management principles and replace them with new thinking and new behaviour that not only incorporate change but also create the necessary changes in the marketplace. All successful entrepreneurial businesses are based on well tho ...
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First-mover advantage

In marketing strategy, first-mover advantage, or FMA, is the advantage gained by the initial (""first-moving"") significant occupant of a market segment. It may be also referred to as Technological Leadership.A market participant has first-mover advantage if it is the first entrant and gains a competitive advantage through control of resources. With this advantage, first-movers can be rewarded with huge profit margins and a monopoly-like status.Not all first-movers are rewarded. If the first-mover does not capitalize on its advantage, its ""first-mover disadvantages"" leave opportunity for new entrants to enter the market and compete more effectively and efficiently than the first-movers; such firms have ""second-mover advantage.""
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