Luxriot Video Management System (VMS) software was introduced to the market in 2005. This case exemplifies the fact that it was a “follower” who helped further develop the market and allow customers to “have it their way,” while competing with the first mover.

The game changer to all this was Burger King, a follower with a unique selling point (USP) - “Have It Your Way!” It was great at the start, but at the end customers started realizing what they want and how they want it, but still had to comply with company policy, where their choice was limited to the quantity. All you could choose was the amount you would like to buy. When the first restaurants were opened, they used a simple approach – you get a burger as it is. A good historical example would be the McDonald’s case. Indeed, this is something that you can reward yourself with after taking the big risk of making the investment.īut for the customers, this meant that you are playing by the rules that are being dictated as you don’t have any other choice. This risk is worth taking - if you succeed as a first mover you can create your own rules: how to do things, how to offer your services and how much to charge.

While having the advantage of a completely wide open and untouched market, the companies are taking a huge risk since they can’t be 100 percent sure if the market actually exists. What does it mean to be a “first mover” in simple words? It’s a company that creates a new product or service, or enters with this product or service into a geographic market where it has not yet been introduced.

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