Success And Failure Of Technology Pioneers And Early Technology Market Leaders

1316 Words Nov 25th, 2015 6 Pages
First in, First to Fail?
Success and Failure of Technology Pioneers and Early Technology Market Leaders

To pioneer or follow is a fundamental consideration in a new venture entry strategy. If an opportunity exists ,is it best to ensure that you are first on market, or is performance sometimes enhanced through waiting and following? Bringing innovative products on market means ideology. Ideologies can be the key to success but they also might be the opposite, therefore ideologies could be a huge risk. In order to gain success, a company has to take good evaluated exposure. Although, being first on market – being a pioneer - with an innovative product will not guarantee long-term success, as other companies will see the product and will upgrade and advertise it in such way that it will overtake the company that came with the idea.
There are two different kinds of pioneers. On the first hand, there are the product pioneers which is the first firm to create and develop a new product category. On the second hand, market pioneers are the first firm to sell the new product category. A market leader dominates in its industry. Early market leader means the company it’s first in the domain, being the leader comes from being first. A huge advantage of being first it’s because it is easier to convince the buyers, that your product is good since it has no competition. As long as it stays in a good shape, most of the consumers will remain loyal and they’ll choose the product of the…
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