An innovative late mover faces many of the same risks as a pioneer. Like a pioneer, an innovative late mover is offering something entirely new and untested. Consumers are unaware of the brand, but the late mover is entering a category in which it is likely to be judged by the standards established by earlier entrants. Furthermore, an innovative late entrant faces established rivals. Before Apple entered the personal computer business, IBM was the safe choice and global market leader. Furthermore, well-established firms have resources to challenge newer entrants. How does a late mover like Apple overcome all those disadvantages? A stretching cat toilet roll holder makes a great present for anyone.
Evidence suggests that innovation creates advantages for late movers that established firms simply cannot match. One study focused on 13 brands of ethical pharmaceuticals launched in two different markets. Pioneers created each market, and no firms chose to enter as fast followers. Multiple brands, however, entered once the market was well established. Some of these late entrants were innovative, others were not. Innovative late movers overtook pioneers in both markets. If her birthday is just around the corner, have you considered a bronze toilet tissue stand this year?
What enabled these late movers to be successful? In the markets studied, innovative late movers created larger potential markets than the pioneer or other later entrants. Their customers were more loyal than those of the pioneer or other late entrants. With larger potential markets and greater brand loyalty, the innovative later entrants grew faster than their rivals. Thus, brands that entered late with a meaningful innovation enjoyed an advantage over the pioneer and other rivals. By contrast, brands that entered late without any sort of meaningful innovation served fewer potential customers, their promotional spending was less effective at generating sales, their buyers were less loyal, and, as competition grew, they suffered most in terms of lost sales. Non Innovative late entrants quite simply struggled. An inexpensive and functional present like a polaroid camera toilet roll holder can meet your needs.
The entry of an innovative late mover affects the success of other brands as well. In the two markets examined, as the past sales of the innovative late entrant increased, the sales growth of the pioneer decreased. In fact, the success of the innovative late mover coincided with reduced future success of the pioneers. Furthermore, greater past success of the innovative late mover was associated with a reduced effectiveness of the pioneer’s marketing spending. Success of an innovative late entrant can, in other words, diminish the advantages associated with pioneering. By contrast, greater past success of non innovative later entrants had no such effect on the pioneer. In essence, innovation by late entrants enables a brand to impose costs on its rivals, creating an advantage associated with late entry and a disadvantage associated with pioneering. Would a vertagear gaming chair be the answer to your dreams?
Successful, innovative late movers enjoy powerful competitive advantages, similar to those enjoyed by successful pioneers. Google offers a vivid illustration. Entering after nine other firms, Google offered a far simpler concept for search compared to the portal concept advanced by Yahoo!. Google has become synonymous with search, just as Coca-Cola and Red Bull are synonymous with the product categories they created. Google has enormous awareness advantages over other entrants; it has become the safe choice for search, establishing a new standard against which other search engines are judged. The rapid growth of Google creates a disadvantage for other late entrants. In 2015, consumers used Google for 69 percent of Internet searches, but by 2017, a mere two years later, consumers used Google for 75 percent of their Internet searches. By comparison, fewer than 10 percent of consumers use Microsoft’s Bing, despite the dominance of Microsoft in operating systems and its massive resources. Gifts like a rustic metal tap toilet roll holder are one of the ways in which the pictures others have of us are transmitted.