My opinion about the benefits and possible drawbacks of being the First Movers in business :

1. The benefits

After read the topic and watching a video about First Movers in business there is three benefits we
can get if we are the First Movers

 Brand name recognition

As "first movers" we get the advantage of Brand name recognition, namely the brand name in
the form of a product or service that we offer to consumers is the first they hear and remember
so that when consumers need the product or service we provide the first thing they remember is
the name of our product or service. our services as the first brand in the market. In addition, in
the brand name recognition business, it is very important because there will be many
competitors who will offer the same products and services as we offer, with brand name
recognition, consumers will prefer the first and proven brand compared to competing brands
that have just emerged.

 Economies of scale
In business, it is very important to pay attention to the availability of the resources we need to
make the products or services we offer, because when we can manage the resources needed by
competitors it will be difficult to make products like ours. In addition, being the first is very
profitable because we have more time to prepare so that production costs are not too expensive
with maximum sales

 Switching costs
Simply put, switching costs are costs that must be incurred by consumers or customers who are
accustomed to using our products to products offered by our competitors. As a first mover, it is
very advantageous because before switching to competing products, consumers will first
consider the costs needed if they do not enter the costs they have, the consumers will stick with
our products.

2. Disadvantage

While there are many advantages associated with being a first mover, there are also disadvantages.
Other businesses can copy and improve first-mover products, thereby capturing first-mover market
share. Apabila kita tidak bisa menunjukan keunggulan produk dibandingkan dengan para pesaing
maka secara perlahan konsumen akan pindah ke produk lain.

Therefore, it is very important to continue to develop the products we have so as not to lose to
compete with products that try to imitate or compete with the products we have.