Reference no: EM133359483

Part 1. Select an industry. Research that industry and identify one or two instances of a first mover; research the introduction of a new offering into new market segments. For example, you might pick consumer electronics and look for firms that initiated new products in new market segments. Your choice of industry must be approved in advance by your instructor as duplication of industries is to be avoided.

Part 2. Brief history and description of the industry chosen (e.g., was this a fast-, standard-, or slow-cycle market at the time the first mover initiated its strategic action)?

How has innovation of new products traditionally been accomplished in this industry: through new firms entering the market or by existing firms launching new offerings?

Identify one or two first movers and provide a review of what happened. If the product or offering is still considered successful, describe why. If not, why not?

What did you learn as a result of this exercise? Do you consider trying to be the first mover a wise competitive action to take? Is your answer dependent upon industry, timing, or luck?