First-Mover Advantage (FMA) can be a service or a product that has the advantage over the others as it was launched first. Being first means you can establish strong brand recognition and offer the best service. Many contenders follow the footpath of first movers to gain profits.
Even though first movers would always hold a significant portion of the overall industry considering its competitors. Strengthening the company’s brand in the market and developing great service are the few perks of being the first mover. They can extend their market reach and gain exclusive agreements with retailers. Most people prioritize options that come first.