What is a first mover? Why was being a first mover considered to ...

[bcretired]

What is a first mover? Why was being a first mover considered to be important during the early years of e-commerce?
 
  What will be an ideal response?

Question 2

Above all, e-commerce is a ________ phenomenon.
 
  A) technology driven
  B) finance-driven
  C) sociological
  D) government-driven

[sierramartinez]

Answer to Question 1

First movers are firms who are first to market in a particular area and who move quickly to gather market share. First movers hoped to establish a large customer base quickly, build brand name recognition early, and inhibit competitors by building in switching costs for their customers through proprietary interface designs and features. The thinking was that once customers became accustomed to using a company's unique web interface and feature set, they could not easily be switched to competitors. In the best case, the entrepreneurial firm would invent proprietary technologies and techniques that almost everyone adopted, creating a network effect, which occurs where all participants receive value from the fact that everyone else uses the same tool or product.

Answer to Question 2

A

[bcretired]

YES! Correct, THANKS for helping me on my review

[kswal303]

Thanks for the timely response, appreciate it