Strategic Management Essay Example | Topics and Well Written Essays - 1250 words - 1

Strategic Management - Essay Example Basing the argument of first mover and late mover’s theories, this paper issues the careful presentation on the move to be implemented by the company to achieve progress, according to the designated task. Introduction The prevalence of the ideology of product management and company establishment is influenced by the decision of management to implement a marketing strategy. The strategy implemented should be developed after careful study of the economy and market structure to discern positive ventures. The task has been assigned as a member of the company that seeks to expand ideologies and strategies within the market, to base decisions on effective study of the market economy. The option issued has been in the entrance to the market as a new product or advancing on the available strategies in the product behaviour within the market. The two theories in first movers and late movers are the determining factors of the market behaviour as each hold varied arguments on the need to implement a desirable strategy (Frawley & Fahy, 2006). However, with the lack of intense knowledge on company business and reaction of management to the alternatives presented, both theories should be expounded on and critical analysis discussed. Both the first mover and late mover theory hold adverse benefits and setbacks, and with the careful analysis of both presentations, better choice is accorded to the company to advance in its marketing strategies. Comparison of the two theories Timing has been considered a vital entity in the quest to establish policies and products within a market. Companies need to acknowledge the need to enter at an early stage within the market or late periods to maximize on the aspect of profit articulation. Market entry has been proved as a measure that determines the rate of prevalence of the policies implemented by a selected company. The behavioural pattern of market entry has been presented to advance in the two formulated theories that are constr ucted from the action taken by a firm to establish structures within a region. Bresser (1998) suggest that the first movers and late movers’ theories have been developed to indicate the behavioural pattern of companies within a market (Frawley & Fahy, 2006). First movers gain the upper hand within the market with the early timing of entrance within the market when the product has not been launched before in the region. The period offers minimal competition, and maximization of profit realized with positive reaction from consumers. Late movers, on the other hand, may gain advantage through implementing strategies that the first mover had applied to advance on the presentations and gain the lead within the market. These aspects have been the variations of the two theories and a careful analysis of both theories may witness the paramount effects. First movers Advantages Firstly, the measure offers leadership and progress through advanced technology in the market, preemption of t he available products, dictatorship of prices with an uninformed buyers trend. After inventing a technological progress, the advantage presented is included in attaining patents and legal ownership of products and services to retain confidentiality of their operational activities. The theory also offers access to product and services before any other company. The location of establishment may offer opportunities in