4 ms·
You hit the nail on the head > first established brand... An "established brand" did get into the mind first... - you might possibly gain ground on them (eBay)
by tyohn 17y ago
You hit the nail on the head > first established brand...
An "established brand" did get into the mind first... - you might possibly gain ground on them (eBay) by focusing on a unique segment (Esty) or a host of other ways. Getting established is the hard part - being first is not a guarantee you'll end up being the "established brand". Was Facebook the first social site? And while a strong brand name is great to have - easier to remember and easier to market - its still nothing compared to getting critical mass.
First mover is a huge advantage if you manage to create a new segment and then spend all your time focusing on promoting how great the segment is - and hopefully at the same time gaining critical mass.