Will and Vision
How Latecomers Grow to Dominate Markets
About the summary
For years, organizations have clung to the belief that the firm that pioneers a new market will become the market leader. Contrary to this widely held belief, the authors write that being first to market guarantees nothing not name recognition, not market share, and not long-term market leadership. The examples are numerous: P&G did not pioneer the disposable diaper, Federal Express was not the first to offer a priority airfreight service, and Microsoft did not invent the first Web browser. In this summary you will learn what five key principles do drive market leadership and how to apply them to your company’s efforts to dominate mass markets.