First Mover
Categories: Financial Theory, Education, Company Management
In France, they don't clean their homes. They Hoover them.
That is a very European term. But Americans also use a brand name when asking for a “Kleenex” instead of a tissue, or “Scotch tape” instead of adhesive tape. The firms that produce these goods have won what is called a first mover advantage.
First movers are firms that open new markets. By being first, they have the opportunity to make a first impression on the masses that they are, in fact, the brand leader, the best player, the visionary, the baller. Usually, first movers also attract the best and brightest engineers and/or creative people, and become a magnet as a center of some kind of commercial revolution.