rely on an unalterable commercial fact: markets evolve. Tastes and expectations don’t stay the same. Niches grow more numerous, deeper, and thanks to the Internet, more accessible. A first mover can sometimes fall in love with its product and fail to realize when technology evolves and consumers want something different. This leaves the field wide open for somebody new. The Big Three automakers (Ford, General Motors and Chrysler) were all second movers, improving manufacturing methods and offering a better product. General Electric wouldn’t have become one of the world’s largest companies if it had stuck to only manufacturing lightbulbs. And Apple, the world’s most valuable tech firm has been a second mover several times. The company was not the first to sell mp3 players, smartphones or even personal computers. Apple just did it better than anyone else.
Julia Koh is the Executive Director of Brand 360 Degree Sdn Bhd and believes every brand will benefit from deep consumer insight.