I appreciate the real world examples shown in this video. Considering both of the mentioned examples are now huge companies, it shows how important being the first in an industry is to a business' success.
The most interesting part about this video were the examples. I liked seeing how even though the companies were very different in the case of first mover vs. non first mover, they are all very successful. Before watching this video I had no idea what a first mover company was or what it actually means in better words. I enjoyed learning the differences between the two and the advantages of the first mover companies.
I appreciate how this video explains the benefits of being the first to enter a market, such as brand recognition, market share, and setting industry standards, while also noting risks like higher costs and market uncertainty.
One of my favorite things to talk about is the first-mover advantages/disadvantages. This video just puts everything into perspective and explains well the advantages of being a company to do something for the first time as well as things that first timers wouldn't know, until after a fail. It's one of my favorite things mainly because it raises the question of; do I want to be first or do I want to wait to learn from others mistakes? Thank you for such an informative video!
As a young man, I grew up being an early bird, because "early bird gets the worm" hence this was kind of like being the first mover. I like this video.
Before watching this video, I had never heard of the term "first-mover advantage," though I am familiar with the saying, "the early bird gets the worm," which I use as daily motivation. As an Amazon shopper, learning how the company leveraged the first-mover advantage to dominate online shopping helped me understand why it became so popular. This example made the concept more relatable since I have direct experience with Amazon as a customer. I also appreciated the examples of companies that weren’t first movers but still achieved success, reinforcing the idea that being a first mover isn't the only path to success.
This video taught me a lot about first-mover advantages. I really enjoyed learning about this and seeing what companies used this and the advantages and benefits they had.
I found this video about first-mover advantages to very informational and interesting. I knew of some benefit, but I had not considered benefits like setting industry standards and creating customer loyalty. I also really enjoyed learning about the real-world examples including Amazon’s early entry into online retail, which allowed it to dominate e-commerce,. I found it fascinating when it discussed that being first didn't always guarantee a win, and that late movers like Google and Starbucks achieved greater success by refining the existing ideas already in the industry. This concept kind of reminds me of when I am the first in my family to try a new restaurant. Even though I discovered the place, my family followed after me, and they ordered better dishes because they heard my feedback from my experience. I really liked how this concept can be relatable to my own experiences.
This video gave me more insight on the ingenuity side of the business world. Consumer don't consider which company entered the market first, just who did it better. This was really put into perspective for me when I saw Amazon as a first-mover and Google as a later entry than yahoo and infoseek.
After watching this lecture, I gained great knowledge on the benefits and downsides of being a first mover. It was interesting to learn that Amazon was so successful in its first two months that they had sold to all fifty states and over 45 countries. First mover advantages greatly outweigh the cost incurred. This helped me gain a preceptive on what creating your own business with the advantages and downsides of free mover.
I agree, being a first mover can be very challenging. Competitors are everywhere in the business field and can steal ideas, so it’s important to always try to have something that distinguishes you from the rest.
I never realized all of the benefits of being a First-Mover. Before watching this video I had only really thought of the disadvantages and thought it was very risky. I now see the advantages and why someone would want to be the First-Mover.
It always amazing to see how great our economy does with the opportunity we have. The fact that Amazon sold books to all 50 states and over 45 countries within two months is crazy. It was also interesting to learn that Volkswagen was the first Western auto manufacturer to enter China!
It is very eye opening to learn the advantages of being a first mover in a market. Taking that initial risk is scary but there are so many benefits. I really enjoyed learning about the successful examples.
It was interesting to see the advantages and disadvantages of being a "first-mover". I had heard pros and cons about it from different shows and podcasts, but this video clearly explains why some companies jump. This video definitely helps us understand why a company might want to try something new and why some do not.
I have never heard of the first mover advantage before this video, but I have heard of "the early bird gets the worm", which I live by daily for motivation. I have shopped at Amazon, so learning how it used the first mover advantage to be number one in online shopping answers my question on how it became so popular. This example also helps me better understand this method, since I am a customer of Amazon and can relate to it. I have also used and shopped at the examples that were not first movers, so it is my understanding that just because a company is not a first mover, does not mean it won't be successful.
Being the first company in an industry can have major pros that can be played into but also major drawbacks if not done to the max capacity, but this video provides insight to diminish such drawbacks to increase chances of being a success without having to worry about followers coming in and stealing the limelight of business.
This video interested me because it goes over all the advantages of being the first mover. You can make your own path instead of having to follow behind others.
This video definitely put a lot of things into perspective. I haven't really given thought to creating my own business or product, but it was nice learning about the advantages of being a first-mover. This is a really useful guide for those wanting to get into the world of entrepreneurship!
This is an intriguing subject to me. In our society, it seems like there is nothing left to invent or any new marketplace to enter. There are such great benefits AND disadvantages to being the first-mover in a new marketplace, and I am always on the lookout for new companies trying to break the ice and release a product with which the rest of the world is not familiar.
This video really put into perspective how complex it could be to be a first one in a market. To me it seemed like moving first would only have advantages but the limitations were very interesting. I had not considered how moving first would put you at a disadvantage of having to educate the public on your product only to possibly have a competitor make your product more cheaply and steal all your customers away.
This video was interesting to me because it discussed the benefits of being a first time mover. They are able to set industry standards, have supplier options, retail relationships, government support, and brand recognition and loyalty. The video used Amazon as an example since it is one of the most recognized brands. It is important to be patient and make sure the product is top notch since competitors can knock it off according to the video.
I enjoyed the details in this video, and the example of both first-movers and followers. I would say the advantages overcome the disadvantages. It’s always exiting to see new ideas come to light, and although there may be followers one always connects them to the first movers. I myself enjoy my Gmail, but still use my Yahoo email and read the daily news on their website every now and then.
I believe that the benefits outrank the limitations. I also liked the real time examples. Amazon is a huge example and I remember when Amazon started becoming a huge book seller. It is cool that I lived through this example of a first mover business.
This video does a great job at describing the advantages and disadvantages of being a first mover. I feel like it would be more beneficial to not be a first mover since you would not have to do something that nobody has done before and can have an example of success.
Being the first to market gives the mover the ability to control and dictate a lot of market factors. However, I believe that the drawbacks-particularly the possibility of competitors reverse engineering a system or product-are a fantastic illustration of the difficulties a first mover must take into account in order to take advantage of the opportunity.
I found this video very educating. I learned a lot about being the first mover and it major advantages. Although there are potential disadvantages, I believe being a First mover is a smart decision in a lot of situations.
Being one of the movers has plenty of advantages with also some risks. I've always been taught to "take the risk" and "shoot for the stars" so for me, the benefits that possibly go with being the first mover outweigh the risks. It's never too late to start over if you fail.
Being the first mover in a market has many benefits but anything new can be tricky to navigate. I like how you get brand recognition if you are first because you are the only one. The disadvantages are very credible. If someone can reproduce your product cheaper, that can hurt you. We have seen that with Yeti cups. Once revered as the one cup to keep your drinks hot or cold, another company came in and made them significantly cheaper. The reward seems to outweigh the risks if you have an evolutionary product.
I find it intriguing that there was a point in time where the first-mover advantage was seen as nothing but positive and desired regardless of the situation. It seems like it would be common sense that there would be unique challenges for a firm that is the first to enter into a foreign market. It's like all other things where a firm would have to explore the costs and benefits and decide if it's worth it.
I can only imagine how nerve-wracking it must be to be the first company in a new market. I feel that when a company is a first mover they get the "hype" or popularity because its something new and shiny but there are also many risks and challenges that come with that as well.
Being a first Mover in a market can be very beneficial because your the only one in that sector. With that being said, It's like being in no mans land because you don't have anyone to reference off of because it's new territory. Also, companies could possibly come in and do what your doing at a cheaper rate. Overall Great Video!
There are definitely major advantages to being the first mover, like mentioned in the video, you have the choice to pave the way setting the standards for the rest who follow. It also can be beneficial to be the first mover because you are remembered as the "original business" and usually continue to stay as the most popular in your brand.
Being the first mover provides the mover to dictate and control many market factors. Though, I think the disadvantages, especially the potential of competition reverse engineering a system or product is an awesome example of the challenges a first mover must consider to capitalize on the position.
I agree that being first with a product can be both beneficial and could be a drawback. Beneficial because you are first in the field, but a drawback is nobody knows the product and service, so you have to create your own branding and service reputation.
Just like in the game of risk, in life those who take big risk can reap big rewards. By being the first to enter a specific market or sector you can win big by being the first one with their foot in the door. This is highlighted by talking about all of the advantages. However the limitations can't be overlooked. People often like to only see and remember those who risked it big and won but there are those who took too big of a risk and lost and or who blew a head start. To be a first mover requires extensive time and money investment that you might never make back if your business fails. By being second to enter an industry you know if something will be successful or not.
Being a first mover can come at a price if one is not careful, but can leave a massive payday if their reward beats the risk. The only issue with being the first mover is that you cannot rely on that money to always be the same, because when one is successful, others always imitate and follow to try and scoop up a portion of the market for themselves. I saw this a lot with the Amazon drop shipping right when a new product became desired, the initial people would make lots of money but it would shortly thereafter be cut down due to the amount of people selling in the market when they saw what those original sellers could make.
Being the first mover in a market offers great advantages, but it can be tough as you explore new territory. This is why it's not necessarily about being the very first mover, but rather being an "early" mover, which allows you to enjoy the benefits of being ahead while also learning from early challenges that have been overcome.
The benefits of being the first mover is very important. I would want to be the first mover if I were starting a new venture. The downside is that others may use your ideas for their ventures.
This video explained all the advantages of being a first-mover. It used Amazon as an example because Amazon is a first-mover in that industry. Due to that, Amazon is a very successful company and set very high standards for other companies in the same industry.
I always intuitively thought that being the first to market would be beneficial, but I never considered the potential negative effects such as helping competitors
I think that the first mover makes businesses very successful because customers will purchase from them with being the first in the field and the best option. They get many benefits by being the first mover.
I've never really thought about all the risks first movers had to face trying to launch their companies, with all the benefits they have one does not think about how much they have to lose, with the high risk it's understandable why many might be scared to take on that much risk. Companies need to be aware of the risk and figure out if they are capable of taking on that risk.
Being the first mover does have incredible advantages, however the downsides are often rough as you're treading through untouched territory. I think that's why not necessarily "first" movers but "early" movers tend to get the best of both worlds between the advantages of being first, yet having some of the kinks already worked out and solved.
Being the first can come with lots of advantages, which I believe outweigh some of the disadvantages. If a good idea is a first mover, then the opportunity for profitability is almost unlimited. However, it is a big risk, because if there is a flaw, a competitor can fix that flaw and use it to their advantage, and take over your market share.
I always assumed if a company was the first with an idea, they would likely be the most successful. However, after watching this video, it seems that a follower of the first mover may actually fair better, just like the example used Google. The disadvantages are definitely something to be considered.
I feel like it is a hard balance to try to be a first mover! Someone might have a very good idea, but they should think through it very thoroughly and try to make it hard for others to move into the market, steal the idea, and get ahead of you. I feel like as a first mover it could be hard to see flaws in your ideas, whereas someone on the outside might be seeing the good and bad things about your business and do it better.
Although there are several benefits to being a first mover it is something that is very difficult to execute correctly. I think the companies that were successful they became some of the biggest companies in the world, however, the risk is so high that there is a chance that you end up being what Yahoo is to Google. You kind of lay the foundation for other companies to be successful from what your mistakes would be. I personally would probably try to stay away from being a first-mover but now have a better understanding of why so many companies push to be new and innovative.
First movers get the advantage of pre-mature monopolization. This means that there is not another carrier of the product and as such, they get complete control over how to sell it. Similarly, they have the most complications, they have to walk the road first and learn what to do and not to do for legality and for customers. With something I'm sure will take off, being first is ideal, for something i'm skeptical on, i'd rather wait to see how it performs.
I appreciate the real world examples shown in this video. Considering both of the mentioned examples are now huge companies, it shows how important being the first in an industry is to a business' success.
The most interesting part about this video were the examples. I liked seeing how even though the companies were very different in the case of first mover vs. non first mover, they are all very successful. Before watching this video I had no idea what a first mover company was or what it actually means in better words. I enjoyed learning the differences between the two and the advantages of the first mover companies.
I appreciate how this video explains the benefits of being the first to enter a market, such as brand recognition, market share, and setting industry standards, while also noting risks like higher costs and market uncertainty.
One of my favorite things to talk about is the first-mover advantages/disadvantages. This video just puts everything into perspective and explains well the advantages of being a company to do something for the first time as well as things that first timers wouldn't know, until after a fail. It's one of my favorite things mainly because it raises the question of; do I want to be first or do I want to wait to learn from others mistakes? Thank you for such an informative video!
As a young man, I grew up being an early bird, because "early bird gets the worm" hence this was kind of like being the first mover. I like this video.
Before watching this video, I had never heard of the term "first-mover advantage," though I am familiar with the saying, "the early bird gets the worm," which I use as daily motivation. As an Amazon shopper, learning how the company leveraged the first-mover advantage to dominate online shopping helped me understand why it became so popular. This example made the concept more relatable since I have direct experience with Amazon as a customer. I also appreciated the examples of companies that weren’t first movers but still achieved success, reinforcing the idea that being a first mover isn't the only path to success.
This video taught me a lot about first-mover advantages. I really enjoyed learning about this and seeing what companies used this and the advantages and benefits they had.
I found this video about first-mover advantages to very informational and interesting. I knew of some benefit, but I had not considered benefits like setting industry standards and creating customer loyalty. I also really enjoyed learning about the real-world examples including Amazon’s early entry into online retail, which allowed it to dominate e-commerce,. I found it fascinating when it discussed that being first didn't always guarantee a win, and that late movers like Google and Starbucks achieved greater success by refining the existing ideas already in the industry. This concept kind of reminds me of when I am the first in my family to try a new restaurant. Even though I discovered the place, my family followed after me, and they ordered better dishes because they heard my feedback from my experience. I really liked how this concept can be relatable to my own experiences.
This video gave me more insight on the ingenuity side of the business world. Consumer don't consider which company entered the market first, just who did it better. This was really put into perspective for me when I saw Amazon as a first-mover and Google as a later entry than yahoo and infoseek.
After watching this lecture, I gained great knowledge on the benefits and downsides of being a first mover. It was interesting to learn that Amazon was so successful in its first two months that they had sold to all fifty states and over 45 countries. First mover advantages greatly outweigh the cost incurred. This helped me gain a preceptive on what creating your own business with the advantages and downsides of free mover.
The advantages of being a "first-mover" have always made sense to me. But the examples in this video really helped me better understand the concept.
I agree, being a first mover can be very challenging. Competitors are everywhere in the business field and can steal ideas, so it’s important to always try to have something that distinguishes you from the rest.
I never realized all of the benefits of being a First-Mover. Before watching this video I had only really thought of the disadvantages and thought it was very risky. I now see the advantages and why someone would want to be the First-Mover.
It always amazing to see how great our economy does with the opportunity we have. The fact that Amazon sold books to all 50 states and over 45 countries within two months is crazy. It was also interesting to learn that Volkswagen was the first Western auto manufacturer to enter China!
It is very eye opening to learn the advantages of being a first mover in a market. Taking that initial risk is scary but there are so many benefits. I really enjoyed learning about the successful examples.
It was interesting to see the advantages and disadvantages of being a "first-mover". I had heard pros and cons about it from different shows and podcasts, but this video clearly explains why some companies jump. This video definitely helps us understand why a company might want to try something new and why some do not.
I have never heard of the first mover advantage before this video, but I have heard of "the early bird gets the worm", which I live by daily for motivation. I have shopped at Amazon, so learning how it used the first mover advantage to be number one in online shopping answers my question on how it became so popular. This example also helps me better understand this method, since I am a customer of Amazon and can relate to it. I have also used and shopped at the examples that were not first movers, so it is my understanding that just because a company is not a first mover, does not mean it won't be successful.
Being the first company in an industry can have major pros that can be played into but also major drawbacks if not done to the max capacity, but this video provides insight to diminish such drawbacks to increase chances of being a success without having to worry about followers coming in and stealing the limelight of business.
This video interested me because it goes over all the advantages of being the first mover. You can make your own path instead of having to follow behind others.
This video definitely put a lot of things into perspective. I haven't really given thought to creating my own business or product, but it was nice learning about the advantages of being a first-mover. This is a really useful guide for those wanting to get into the world of entrepreneurship!
This is an intriguing subject to me. In our society, it seems like there is nothing left to invent or any new marketplace to enter. There are such great benefits AND disadvantages to being the first-mover in a new marketplace, and I am always on the lookout for new companies trying to break the ice and release a product with which the rest of the world is not familiar.
This video really put into perspective how complex it could be to be a first one in a market. To me it seemed like moving first would only have advantages but the limitations were very interesting. I had not considered how moving first would put you at a disadvantage of having to educate the public on your product only to possibly have a competitor make your product more cheaply and steal all your customers away.
This video was interesting to me because it discussed the benefits of being a first time mover. They are able to set industry standards, have supplier options, retail relationships, government support, and brand recognition and loyalty. The video used Amazon as an example since it is one of the most recognized brands. It is important to be patient and make sure the product is top notch since competitors can knock it off according to the video.
this video was very educating. I was able to understand more on the first mover advantage.
I enjoyed the details in this video, and the example of both first-movers and followers. I would say the advantages overcome the disadvantages. It’s always exiting to see new ideas come to light, and although there may be followers one always connects them to the first movers. I myself enjoy my Gmail, but still use my Yahoo email and read the daily news on their website every now and then.
I believe that the benefits outrank the limitations. I also liked the real time examples. Amazon is a huge example and I remember when Amazon started becoming a huge book seller. It is cool that I lived through this example of a first mover business.
This video does a great job at describing the advantages and disadvantages of being a first mover. I feel like it would be more beneficial to not be a first mover since you would not have to do something that nobody has done before and can have an example of success.
Being the first to market gives the mover the ability to control and dictate a lot of market factors. However, I believe that the drawbacks-particularly the possibility of competitors reverse engineering a system or product-are a fantastic illustration of the difficulties a first mover must take into account in order to take advantage of the opportunity.
I found this video very educating. I learned a lot about being the first mover and it major advantages. Although there are potential disadvantages, I believe being a First mover is a smart decision in a lot of situations.
Felipe Cotto / PJ
Being one of the movers has plenty of advantages with also some risks. I've always been taught to "take the risk" and "shoot for the stars" so for me, the benefits that possibly go with being the first mover outweigh the risks. It's never too late to start over if you fail.
Being the first mover in a market has many benefits but anything new can be tricky to navigate. I like how you get brand recognition if you are first because you are the only one. The disadvantages are very credible. If someone can reproduce your product cheaper, that can hurt you. We have seen that with Yeti cups. Once revered as the one cup to keep your drinks hot or cold, another company came in and made them significantly cheaper. The reward seems to outweigh the risks if you have an evolutionary product.
I find it intriguing that there was a point in time where the first-mover advantage was seen as nothing but positive and desired regardless of the situation. It seems like it would be common sense that there would be unique challenges for a firm that is the first to enter into a foreign market. It's like all other things where a firm would have to explore the costs and benefits and decide if it's worth it.
I can only imagine how nerve-wracking it must be to be the first company in a new market. I feel that when a company is a first mover they get the "hype" or popularity because its something new and shiny but there are also many risks and challenges that come with that as well.
Being a first Mover in a market can be very beneficial because your the only one in that sector. With that being said, It's like being in no mans land because you don't have anyone to reference off of because it's new territory. Also, companies could possibly come in and do what your doing at a cheaper rate. Overall Great Video!
There are definitely major advantages to being the first mover, like mentioned in the video, you have the choice to pave the way setting the standards for the rest who follow. It also can be beneficial to be the first mover because you are remembered as the "original business" and usually continue to stay as the most popular in your brand.
Being the first mover provides the mover to dictate and control many market factors. Though, I think the disadvantages, especially the potential of competition reverse engineering a system or product is an awesome example of the challenges a first mover must consider to capitalize on the position.
I agree that being first with a product can be both beneficial and could be a drawback. Beneficial because you are first in the field, but a drawback is nobody knows the product and service, so you have to create your own branding and service reputation.
Just like in the game of risk, in life those who take big risk can reap big rewards. By being the first to enter a specific market or sector you can win big by being the first one with their foot in the door. This is highlighted by talking about all of the advantages. However the limitations can't be overlooked. People often like to only see and remember those who risked it big and won but there are those who took too big of a risk and lost and or who blew a head start. To be a first mover requires extensive time and money investment that you might never make back if your business fails. By being second to enter an industry you know if something will be successful or not.
Being a first mover can come at a price if one is not careful, but can leave a massive payday if their reward beats the risk. The only issue with being the first mover is that you cannot rely on that money to always be the same, because when one is successful, others always imitate and follow to try and scoop up a portion of the market for themselves. I saw this a lot with the Amazon drop shipping right when a new product became desired, the initial people would make lots of money but it would shortly thereafter be cut down due to the amount of people selling in the market when they saw what those original sellers could make.
Being the first mover in a market offers great advantages, but it can be tough as you explore new territory. This is why it's not necessarily about being the very first mover, but rather being an "early" mover, which allows you to enjoy the benefits of being ahead while also learning from early challenges that have been overcome.
The benefits of being the first mover is very important. I would want to be the first mover if I were starting a new venture. The downside is that others may use your ideas for their ventures.
This video explained all the advantages of being a first-mover. It used Amazon as an example because Amazon is a first-mover in that industry. Due to that, Amazon is a very successful company and set very high standards for other companies in the same industry.
I always intuitively thought that being the first to market would be beneficial, but I never considered the potential negative effects such as helping competitors
I think that the first mover makes businesses very successful because customers will purchase from them with being the first in the field and the best option. They get many benefits by being the first mover.
I've never really thought about all the risks first movers had to face trying to launch their companies, with all the benefits they have one does not think about how much they have to lose, with the high risk it's understandable why many might be scared to take on that much risk. Companies need to be aware of the risk and figure out if they are capable of taking on that risk.
very helpful
Being the first mover does have incredible advantages, however the downsides are often rough as you're treading through untouched territory. I think that's why not necessarily "first" movers but "early" movers tend to get the best of both worlds between the advantages of being first, yet having some of the kinks already worked out and solved.
Being the first can come with lots of advantages, which I believe outweigh some of the disadvantages. If a good idea is a first mover, then the opportunity for profitability is almost unlimited. However, it is a big risk, because if there is a flaw, a competitor can fix that flaw and use it to their advantage, and take over your market share.
I always assumed if a company was the first with an idea, they would likely be the most successful. However, after watching this video, it seems that a follower of the first mover may actually fair better, just like the example used Google. The disadvantages are definitely something to be considered.
I feel like it is a hard balance to try to be a first mover! Someone might have a very good idea, but they should think through it very thoroughly and try to make it hard for others to move into the market, steal the idea, and get ahead of you. I feel like as a first mover it could be hard to see flaws in your ideas, whereas someone on the outside might be seeing the good and bad things about your business and do it better.
Although there are several benefits to being a first mover it is something that is very difficult to execute correctly. I think the companies that were successful they became some of the biggest companies in the world, however, the risk is so high that there is a chance that you end up being what Yahoo is to Google. You kind of lay the foundation for other companies to be successful from what your mistakes would be. I personally would probably try to stay away from being a first-mover but now have a better understanding of why so many companies push to be new and innovative.
First movers get the advantage of pre-mature monopolization. This means that there is not another carrier of the product and as such, they get complete control over how to sell it. Similarly, they have the most complications, they have to walk the road first and learn what to do and not to do for legality and for customers. With something I'm sure will take off, being first is ideal, for something i'm skeptical on, i'd rather wait to see how it performs.