Report on 'First Mover' and 'Late Mover' Theory for Products and Services

Question

The managers of your company are deciding whether to develop a brand new product not yet seen in the marketplace or a version of a competitor's product that has already been launched into the marketplace. Management has called a meeting to discuss which way to go. They want to know if they should follow the "first-mover" theory or "late-mover" theory. You have been assigned the task to develop a neat and organized report for this meeting that will give evidence that describes and discusses either supports or disagrees with these theories. You may use the Library or other Web resources to find more information on these terms as well as examples to support your position.

As a new consultant, you really don't know much about the company involved, the potential products that the managers want to discuss in their meeting, nor the personalities of the managers who will be attending the meeting. The very best that you can really do within the given scenario is to thoroughly and factually explore both of these theories in your report as input for their discussion during the remainder of the meeting. You should provide an unbiased comparison of the two theories. Identify at least four advantages and four disadvantages for each theory and comprehensively show how each advantage or disadvantage affects the use of that theory (a minimum of 16 pros/cons in all). Identify at least four examples of real firms who have been successful and four examples of real firms who have been failures using each theory (a minimum of 16 real firms in all).

Provide a definitive and unbiased recommendation of which theory to use. You should provide the specific attributes which constitute the most advantageous context in which the chosen theory operates and justify your recommendation with researched support, logic and examples. All individual project assignments require a minimum of three (3) scholarly sources. You are welcome and encouraged to use the David text book and the course materials that came for this course; however, make sure to use a minimum of at least three (3) scholarly sources as well.

Summary

The question belongs to Corporate Strategy. The question here is about ‘first mover’ and ‘late mover’ theory. First mover theory is about a manufacturer who introduces a new product that has not been seen and late mover is a manufacturer who produces a variant of an already existing product. The differences between the two, the advantages and disadvantages of the two have been discussed in the report.

Total Word Count 1634

 

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