First Mover and Market Follower

When examining competitive advantage, it is also important to consider the market and take into account the existing competition against larger firms.

3. According to the Investopedia, “Competitive advantage is an advantage that a firm has over its competitors, allowing it

Competitive advantage exists when a firm has strategy, product or an attribute that makes the firm capable of delivering similar benefit to that of competitors at a cheaper cost. Having competitive advantage is not enough the company should be capable of sustaining that particular competitive advantage for a longer period of time.

The weaknesses of these of competitors are that they must market their programs to new people because they do not already have customers. This is a weakness because bringing in new customers is more expensive than retaining old ones. Another weakness is that they must build facilities in order to offer these programs and services.

consideration of competitors who are appealing to the same customers. Why will customers prefer your business to theirs?

After advisors identify what their target market is, they must then define their competitive advantage. As we mentioned above, having a competitive advantage means having an advantage that puts them in a favorable business position. There are many ways advisors can achieve a competitive advantage, check out some effective ways:

First-mover advantages are benefits that a company receives by being the first to adopt a new product or new

When an organization is the first to market with a competitive advantage, it gains a first-mover advantage. The first-mover advantage occurs when an organization can significantly impact its market share by being first to market with a competitive advantage. As organizations

Firstly, there are companies, which pursue the strategy of entering the market created by outsiders, in a role of a follower. They allow small pioneers to lead the way into new market territory. For example: IBM let Apple, Commodore and Tandy define a personal computer (Christensen, Bower, 1995).

The more prospective the competitive advantage the more it becomes hard for it's advantage to be neutralized .

Competitive advantage is that a company has better ability in earning profit and profit growth compared to its competitors for the same group of customers in one industry.

Competitive advantage(CA) is an advantage competitors gain by providing or offering customers or consumers greater value for their money through product and service differentiation or through lower prices. Maintaining competitive advantage is crucial to many businesses or organizations' success in order to survive in the market. Competitive advantage is characterized by superior performance which could be an attribute to outperform the competitors whether current or potential; or gaining a higher market share in a particular industry thereby ensuring market leadership; or ultimately, maximization of profit.(JOBBER 2010)

If a value creating strategy is implemented by an Organization and it is not being implemented at the same time by another organization, one can say the organization has a competitive advantage over its competitors. It is imperative for a firm to choose the height of competitive advantage it wants to attain in the industry. An organization must aim to initiate a profitable and sustainable spot against your competitors in the same industry.

Competitive advantage is what makes an organization unique and perform better than others/ competitive advantage gives an organization edge over the others. It is a position that a firm occupies in a competitive landscape. A firm posse’s sustainable competitive advantage when it has a value creating processes and positions that cannot be duplicated or imitated by others firms.

*  A competitive advantage is one that distinguishes a firm or a business from the competitors in the minds of the customers. It also refers to the state or ​condition that make a ​business more ​successful than the ​businesses it is ​competing with, or a particular thing that makes it more ​successful such as having a higher sales through offering low or affordable goods and services.