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Essay / Research Paper Abstract
This paper compares the benefits of entering a new market first (as a "pioneer") versus late market entry. Bibliography lists 10 sources.
Page Count:
7 pages (~225 words per page)
File: D0_MTmarent.rtf
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Unformatted sample text from the term paper:
market. Rather, X Corporation tends to be a late market entry - one that waits to see how well the pioneer does within a market before going in and offering
a better, cheaper and higher quality product. As with any form of marketing or branding, there are benefits and disadvantages to such a method. The benefits are that the late
entry business learns from the pioneer what mistakes not to repeat. The late entry can also study the tools that the pioneer has been using to sell, and can make
them better and more efficient, as well as improving the quality and durability of a product. Waiting, however, can be dangerous
as well. If the timing isnt perfect, the late entry business could find itself unable to unseat the popular brand introduced by the pioneer. In addition, it could find itself
cutting its prices - just to keep up with other competition entering the market. In short, while waiting might seem, at the outset, to be a good strategy, it can
also backfire. This paper will examine the pros and cons of X Corporations marketing strategies to determine if being a pioneer or
late entry is the best possible scenario for the company. Benefits of Later Market Entry Among many businessmen and women, it
is assumed that there is a competitive advantage to being first to the market (Boulding and Christen, 2001). There is a certain cachet to being a leader or a trendsetter.
Ones product is showcased first, and one can establish a brand name more effectively without other competition around. One also receives the bulk of the publicity by being first.
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