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Essay / Research Paper Abstract
An 8 page paper. The theory regarding timing of new product introduction is the First Mover theory. The theory discusses the advantages and disadvantages of being a first mover, second mover or late mover. Each has its own risks, advantages and disadvantages, which are discussed. Empirical research is reported. Examples are provided. Bibliography lists 5 sources.
Page Count:
8 pages (~225 words per page)
File: MM12_PGfstmv9.rtf
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Unformatted sample text from the term paper:
has a significant impact on that companys successful venture. The theory regarding timing of new product introduction is the First Mover theory. The theory discusses the advantages and disadvantages of
being a first mover, second mover or late mover. Each has its own risks, each will cost the company different amounts, and each has advantages and disadvantages. A first mover
may offer an innovation, a brand new product to the market or they may offer new products in terms of incremental improvements over existing products. The second movers basically copy
what the first mover has done and learns from their mistakes. Late movers wait until the industry has gone one way or the other on the product. This essay
discusses this theory, what each means, advantages and disadvantages. Empirical evidence is reported. Examples are included. Finally, the writer comments that deciding where to be in terms of introducing products
depends on a number of factors including the companys own core competencies. First Movers, Second Movers and Later Movers Theory The timing of introducing a new product
on the market can lead to great success or dismal failure. How and when each company does this depends a great deal on their industry, their own resources and their
core capabilities (Open Learning World 2007). There are various schedules for introducing products from being the very first to being the very last. Contrary to what some may think, there
are advantages and disadvantages in any schedule. First movers refer to companies that launch a new product first. Late Movers refer to companies who launch the same or a similar
product after the first has been launched and basically field-tested. There is one in the middle, referred to as the second movers who quickly reacts to the new product and
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