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Also known as: FMA, pioneer advantage

First-Mover Advantage

ConceptualStrategies

Definition

First-Mover Advantage: First-mover advantage is the competitive benefit gained by being first to enter a market. Advantages include brand recognition, customer lock-in, and learning curve benefits. However, first movers also face higher costs of market education and risk of being disrupted by better-resourced followers.

Example Usage

“Being first in AI-powered legal research gave us 18 months head start. But we had to educate the market, which fast followers now exploit.”

Common Misconceptions

First always wins. Many successful companies were second or third movers who learned from pioneers' mistakes.
Speed is everything. Timing matters more than pure speed; being too early can be as bad as too late.
First-mover advantage is permanent. Without continuous innovation, fast followers can catch up quickly.

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