Dacko, Scott G. (2009)Late mover. In: Wankel, Charles, (ed.) Encyclopedia of business in today's world. Los Angeles: Sage Publications Ltd.. ISBN 978-14-129-6427-2
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Abstract
Late Mover Also called a late follower or a later market entrant, a late mover is a firm that enters a market some time after both the market pioneer(s) and after early follower firms. While there are no set guidelines in terms of the passage of chronological time that clearly differentiate late movers from early movers, it is generally acknowledged that late-mover firms enter markets characterized by significant numbers of existing competitors and, as such, the markets are often relatively mature in terms of growth rate. Kodak, for example, was labeled a very late mover in the inkjet printer market when the company decided to enter this market with its own brand of inkjet printer many years after numerous other firms had established strong footholds in the market.
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FAQs
The advantage a company gains by being one of the later entrants to sell a product or provide a service, when technology has improved and can be copied easily. Late mover advantage refers to the benefits that a company may receive by entering a market after other companies have already established themselves.
What is the meaning of late mover? ›
the advantage that a company has when it is the last to introduce a new product, service, or technology, because it can learn from developments that have taken place, or from what others have done: They took advantage of ever-accelerating advances in technology to capture what is called the last-mover advantage.
What is an example of a late mover company? ›
There are a lot of prime examples of companies who have seen success by implementing the late mover theory. Some include Gillette, Facebook, Pampers disposable diapers, and Internet Explorer. All of these corporations have capitalized on companies who took the initial risk of implementing the first mover theory.
What is the difference between first mover and late mover? ›
While first mover advantage is highly touted, there are substantial merits to the late mover strategy as well: Market Observation: Late movers have the distinct advantage of watching and learning from the experiences of their pioneering counterparts.
What are late movers in strategic management? ›
Compared with pioneers and noninnovative late entrants, innovative late movers diffuse faster, enjoy higher market potential, and have higher repeat rates. Moreover, innovation enables a late mover to have an impact on the pioneer's diffusion and market response that a noninnovative late mover does not.
Is it common for movers to be late? ›
Lateness on the part of moving companies is more common than you may think. The best way to deal with late delivery or pickup is to notify the corporate office. Starting small projects in your new home is a good way to keep yourself busy while waiting for the movers to arrive.
Are movers typically late? ›
Moving companies don't set out to be late, but it happens more often than you think. Logistics and external factors can lead to schedule delays. Before hiring a moving company, do your research! You want to hire a company that prides itself on timeliness, efficiency, and customer satisfaction.
What are the advantages of late movers? ›
A late entrant is able to avoid the obvious mistakes of not understanding customer perception by reading well into the growth phase of its competition. They can position themselves correctly and channel investment to create and deliver a better "perceived" product.
What is the difference between a late mover and a fast follower? ›
As for the difference between fast followers and late movers, the former act almost immediately after a new product or a service are launched by a first mover, and the latter have not only implement the changes but also compete with fast followers that are likely to have achieved success by the moment a late mover ...
What comes after first mover? ›
First movers in a specific industry are almost always followed by competitors that attempt to capitalise on the first movers' success.
While being a late mover can offer advantages, it also comes with its own set of risks, such as entering an already saturated market, facing established competition, and potentially lacking the innovative edge of a first mover.
Is Apple considered a first mover? ›
From a business angle, the financial benefits of being the first mover can be immense. Like Kleenex or Apple, being the first mover creates an opportunity to launch or revolutionize an industry- and make a significant return on investment for doing so.
What are some examples of first movers who failed? ›
While some well-known first movers, such as Gillette in safety razors and Sony in personal stereos, have enjoyed considerable success, others, such as Xerox in fax machines and eToys in Internet retailing, have failed.
What are the possible benefits of being a late mover? ›
Here are a few ways in which being a late mover can be advantageous: Lower research and development costs, since the technology or product has already been developed by the first movers. Learning from the mistakes of the first movers and improving the product or service.
What is the meaning of late manager? ›
just preceding the present or existing person or thing; former. the late manager of this firm.
What is an early mover? ›
A first mover is a company that gains a competitive advantage by being the first to bring a new product or service to the market. First movers typically establish strong brand recognition and customer loyalty.
