A company may choose to enter a new geographical market where the type of product it offers does not yet exist with the hope to gain the first mover advantage. First-mover strategy is not new and is regularly implemented by small and large companies. It can bring a lot of benefits when executed well, however being the first mover is very expensive and not always
If you are a company which enters a new international market, you will have access to a new customer pool and potential revenue streams. However, you will also have to deal with new or existing competitors. Among them, many may be local competitors with a better knowledge and understanding of the market. Their presence in your target market gives them a significant advantage.. Your main
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