who thought that the first mover advantage is the real thing, here comes a sensational eye opener...
If there
was one launch that the entire world had been waiting for with bated breath, it was for the iPhone! Its been one of the most well planned launches in the history of marketing. By deliberately giving scant information about the product, they raised the excitement level to an unprecedented height, with frenzied fans waiting endlessly just to catch a glimpse of the coveted product. Not surprisingly, iPhone created a record by selling 2,70,000 devices, just within the first two days of its launch. Yet, analysts predict that the success run may not sustain. Competition has already begun to work frantically on phones that will look and sound like the iPhone and probably be much cheaper too. Conventional business wisdom says, being first in the market allows you to set standards. In addition, you can gain economies of scale, get the consumers hooked on to your brand and gain market leadership. But reality is not all that simple. If you thought Hotmail was the first company to offer free e-mail; Amazon was the first to sell books online; eBay was the first auction site; or that Starbucks was the first to start a coffee shop, you could not be more wrong. Instead Juno was the first to offer free e-mail; Books.com was the first online book store (launched in 1 996) and Peets was the first to launch the concept of a coffee shop.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
If there
was one launch that the entire world had been waiting for with bated breath, it was for the iPhone! Its been one of the most well planned launches in the history of marketing. By deliberately giving scant information about the product, they raised the excitement level to an unprecedented height, with frenzied fans waiting endlessly just to catch a glimpse of the coveted product. Not surprisingly, iPhone created a record by selling 2,70,000 devices, just within the first two days of its launch. Yet, analysts predict that the success run may not sustain. Competition has already begun to work frantically on phones that will look and sound like the iPhone and probably be much cheaper too. Conventional business wisdom says, being first in the market allows you to set standards. In addition, you can gain economies of scale, get the consumers hooked on to your brand and gain market leadership. But reality is not all that simple. If you thought Hotmail was the first company to offer free e-mail; Amazon was the first to sell books online; eBay was the first auction site; or that Starbucks was the first to start a coffee shop, you could not be more wrong. Instead Juno was the first to offer free e-mail; Books.com was the first online book store (launched in 1 996) and Peets was the first to launch the concept of a coffee shop.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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