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    Nama: I Putu Gede Juliardana NIM: 042215235 Matkul: Bahasa Inggris Niaga

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    Tommy Anugrah
    This document contains the answers to questions about first mover advantage in business from a student named I Putu Gede Juliardana. Some key advantages of being a first mover include gaining brand name recognition, achieving economies of scale, and creating switching costs for customers. However, first movers also face challenges such as incurring high costs to educate new markets and the risk of mistakes allowing competitors to copy their ideas more easily. To survive as a first mover, a business must recognize customer needs, pay attention to habits, and continue to innovate their products.

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    Nama: I Putu Gede Juliardana NIM: 042215235 Matkul: Bahasa Inggris Niaga

    Uploaded by

    Tommy Anugrah
    298 views2 pages
    This document contains the answers to questions about first mover advantage in business from a student named I Putu Gede Juliardana. Some key advantages of being a first mover include gaining brand name recognition, achieving economies of scale, and creating switching costs for customers. However, first movers also face challenges such as incurring high costs to educate new markets and the risk of mistakes allowing competitors to copy their ideas more easily. To survive as a first mover, a business must recognize customer needs, pay attention to habits, and continue to innovate their products.

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    Diskusi B.Inggris Niaga

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    This document contains the answers to questions about first mover advantage in business from a student named I Putu Gede Juliardana. Some key advantages of being a first mover include gaining brand name recognition, achieving economies of scale, and creating switching costs for customers. However, first movers also face challenges such as incurring high costs to educate new markets and the risk of mistakes allowing competitors to copy their ideas more easily. To survive as a first mover, a business must recognize customer needs, pay attention to habits, and continue to innovate their products.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    298 views2 pages

    Nama: I Putu Gede Juliardana NIM: 042215235 Matkul: Bahasa Inggris Niaga

    Uploaded by

    Tommy Anugrah
    This document contains the answers to questions about first mover advantage in business from a student named I Putu Gede Juliardana. Some key advantages of being a first mover include gaining brand name recognition, achieving economies of scale, and creating switching costs for customers. However, first movers also face challenges such as incurring high costs to educate new markets and the risk of mistakes allowing competitors to copy their ideas more easily. To survive as a first mover, a business must recognize customer needs, pay attention to habits, and continue to innovate their products.

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    Nama : I Putu Gede Juliardana

    NIM : 042215235

    Matkul : Bahasa Inggris Niaga

    After studying the third Session Topic entitled 'First Mover Advantage' and also
    watching a video on the same topic, answer the following questions:

    1. What are the advantages of becoming First Movers in business?


    2. What are the challenges of becoming First Movers?
    3. What does a First Mover do in order to survive the market?

    Here my answer

    1. Being the first to develop and market a product comes with many prime
    advantages that strengthen a company's position in the marketplace. For
    example, a first mover often gains exclusive agreements with suppliers, sets
    industry standards, and develops strong relationships with retailers. Other
    advantages include

    • Brand name recognition is the main first-mover advantage. Not only does it
    engender loyalty among existing customers, but it also draws new customers to
    a company's product, even after other companies have entered the market.
    Brand name recognition also positions companies to diversify offerings and
    services.

    • Economies of scale, particularly those regarding manufacturing or technology-


    based products, is a massive advantage for first movers. The first mover in an
    industry has a longer learning curve, which frequently enables it to establish a
    more cost-efficient means of producing or delivering a product before it
    competes with other businesses.

    • Switching costs let a first mover build a strong business foundation. Once a
    customer has purchased the first mover's product, switching to a rival product
    may be cost prohibitive. For example, a company using the Windows operating
    system likely would not change to another operating system, because of the
    costs associated with retraining employees, among other costs.
    2. One thing is clear, first-movers face a number of challenges unique to their
    market timing. For example, they almost always carry the burden of having to
    educate their markets and change pre-existing behaviors. You don’t need to be a
    psychologist to know that humans resist change. As a result, teaching users a
    new way to do something can be a long (and expensive) road.
    Being the first is also not always profitable. Companies have to invest in
    infrastructure and major risks, especially new product development, distribution
    network development and stimulate demand. Furthermore, any mistakes and
    imperfections can be exploited by the following company (the latter) to compete
    with the first company.

    3. 1). Recognizing the needs and wants of consumers To win the market
    you need to understand more about the needs and wants of consumers.
    Consumers should be the end of the products created.

    2). Pay attention to consumer habits.


    Consumer habits are one of the factors that must be considered when creating
    new products. The habits, traditions, or culture that develop in society greatly
    influence one's needs. Do a survey and research beforehand on the habits and
    traditions that exist in the surrounding community to find out the effectiveness
    and chances of product success.

    3). Innovative
    Traditions that develop in society are the capital of the OT Group in creating its
    products. But of course, the point of tradition is not enough; one condition that is
    held fast is innovation.

    thanks and sorry if my english is bad.

    Source :
    Material session 3
    corporatefinanceinstitute.com
    bluenotevc.com

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