a publishing compamy published education books based on cce pattern before any other publishing company. what will be the advantage that this company will get?
Dear pallavi,
In this case the publishing house will get an advantage of being the first mover, which implies that it can take advantage of being the first supplier in the market. Advantages enjoyed by the first movers are:
1. This Publishing house can establish it's position as a market leader, it can gain valuable experience and can enjoy economies of scale which will help this company to be cost effective.
2. They can develop its image as a pioneer which helps in building reputation in the market. It can also create standards for its product. For the late movers, imitation of such standards might be risky.
In this case the publishing house will get an advantage of being the first mover, which implies that it can take advantage of being the first supplier in the market. Advantages enjoyed by the first movers are:
1. This Publishing house can establish it's position as a market leader, it can gain valuable experience and can enjoy economies of scale which will help this company to be cost effective.
2. They can develop its image as a pioneer which helps in building reputation in the market. It can also create standards for its product. For the late movers, imitation of such standards might be risky.