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- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of Gerard Tellis and Peter Golder's book: "Will and Vision: How Latecomers Grow to Dominate Markets".
This complete summary of the ideas from Gerard Tellis and Peter Golder's book "Will and Vision" raises an interesting question: “Is it better to be first to market with a new product or to delay getting to market until you have a better product?”. In their book, the authors explain how the answer to this question can be found by looking at current market and product category leaders - these tend to be the companies that best harness the five key drivers of long-term success, rather than those who seek a first-mover advantage. This summary demonstrates each of these drivers and why you should exploit them in order to gain lasting success.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "Will and Vision" and discover the key to harnessing long-term market leadership.
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Seitenzahl: 37
Veröffentlichungsjahr: 2014
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Book Presentation: Will and Visionby Gerard Tellis and Peter Golder
Book Abstract
About the Author
Important Note About This Ebook
Summary of Will and Vision(Gerard Tellis and Peter Golder)
Book Presentation: Will and Visionby Gerard Tellis and Peter Golder
Book Abstract
Main Idea
Is it better to be first to market with a new product or to delay getting to market until you have a better product?
Popular wisdom states there is always a “first-mover advantage” – the first company to get to market with a new product will enjoy greater name recognition, a higher market share and enduring leadership over everyone else who later enters the same markets. In reality, however, the facts actually point to a different conclusion. Most markets and product categories tend to be dominated by the companies that best harness the five key drivers of long-term success rather than exclusively seeking a first-mover advantage:
In short, a market pioneer has the “first bite at the cherry” of market leadership, but over the long haul, market leadership will ultimately be bestowed on whichever company best exploits these five drivers – be they a pioneer or a late market entrant.
About the Author
GERARD TELLIS is a professor at the Marshall School of Business, the University of Southern California, Los Angeles. Dr. Tellis (a graduate of the University of Michigan) specializes in the areas of market entry, technology innovation, new product development and advertising. He worked previously as a sales development manager for Johnson & Johnson and is the author of more than 40 articles and books.
PETER GOLDER is associate professor of marketing at the Stern School of Business, New York University. Dr. Golder (a graduate of the University of Southern California) carries out research focusing on market pioneering, new products, long-term leadership and branding. Prior to earning a PH.D., Dr. Golder worked for Conoco and Northrop.
The Web site for this book is atwww.willandvision.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Will and Vision(Gerard Tellis and Peter Golder)
The Fatal Flaws With Most Research On Pioneers
Main Idea
Many managers and entrepreneurs assume there are substantial advantages in being first to market. However, the research often used in supporting that belief actually suffers from three problems:
A survival bias – ignoring pioneers that fail.A self-report bias – managers define themselves as pioneers.Loose definitions – of the market being “pioneered”.When these problems are allowed for, the bulk of the research actually shows being a market pioneer has limited benefits whereas the firms that dominate markets are generally those which enter emerging markets much later.
Supporting Ideas
The widely accepted wisdom is that: “It’s better to be first, than it is to be better”. As a result, many managers happily assume:
That market pioneers rarely if ever fail, and they just gradually lose market share as more firms enter the market.That the market pioneers will generally remain the market leaders, with stable market shares of 30-percent or more.That it is better to rush to market with an inferior product rather than be late with a superior product.Accordingly, Wall Street commonly factors in a premium for companies which are positioned to harness a first-mover advantage. Over the years, the business press and numerous academic studies have reinforced this widespread belief in the benefits of being first to the marketplace. Most of these studies, however, have been flawed. In particular, they have not allowed for three specific factors:
A survival bias.Since everyone loves a success story, many studies exclude from their analysis pioneers that failed and instead include only those pioneers that succeeded. For example, the business press often has excellent coverage about disaster stories while they are occurring but nothing whatsoever about firms that failed in the past because they fade quickly from the public consciousness. Similarly, all marketing studies will survey the customers of current market participants but it will be impossible to identify the customers of pioneering firms that have gone out of business. That effectively means those studies propose a hypothesis, exclude data gathering that can disprove the hypothesis and then conclude the hypothesis has, in fact, been proven.
A self-report bias.
