(a) Find five examples of Bangladeshi firms that pioneered a new product in a new market and were ableto achieve long-run success based on that entry. Find five examples of firms that were not the pioneers butentered later to eventually overtake the pioneer as market leader. In your opinion, why were the successfupioneers successful, and why were the unsuccessful ones unsuccessful?
Answers
Answer:
Explanation:
A new product by a firm, for a new market, and especially if it is also a new product category is one of the most difficult to implement types of innovation - both radical and disruptive innovations are not easy while a breakthrough innovation is rare. Very few firms are able to do it even once, and fewer can do it consistently.
Intel is a standout example. Sony’s walkman is also a good example - while in this case, the firm succeeded initially it was out-innovated by other firms and product variations e.g. the iPod.
Is Apple an innovator or just a copy-cat? Read on to find more…
A Go-To-Market strategy for any innovative product/ technology needs a strong and compelling use case to survive the test of time. A gimmicky gadget/ feature won’t cut it. Neither is cramping as many uncorrelated features as possible to stand out from others in the market, most of them left half-baked. As the saying goes, ‘to every Yes there is 1000 No’. Find the one that solves a real pain for your user group. Say “Yes” and commit to a single use case even before building the Minimum Viable Product (MVP).
Answer:
B2B(BUISNESS TO BUISNESS)