When to enter? The timing and speed of market entry
This chapter starts with a discussion on how financial services firms predict market development. The role of uncertainty and ambiguity, and tools that attempt to reduce them, are presented. It then considers early and late mover advantages, showing how firms that enter markets early try to protect their advantages through isolation mechanisms such as the creation of technological standards, the pre-emption of assets, and buyer switching costs. Late movers can take advantage of free riding, the early resolution of technological or market uncertainty, shifts in technology or customer needs, and incumbent inertia. The chapter concludes with a discussion of factors that typically lead to accelerated international expansion.
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