Market Competition
Second mover strategy ensures there is a winning exactly after an initial firm (first mover) provokes the position of the market. Hence, the second mover will quickly establish its position in the market. The fast-second mover strategy slowly obtains its position in the market. Hence, the latter will wait for dominant designs to begin before moving in to take part in them. In fact, the fast-second mover will only have to assist in creating the designs. Notably, the second mover strategy would be termed to be quick enough as compared to the fast-second mover. Both strategies differ when it comes to market competition. The fast-second mover strategy utilizes time; hence, this enables the development of economies of scale. Besides, the products will be delivered through efficient costs. For instance, Amazon would be presumed to adopt fast-second strategy (Kim & Mauborgne, 2015). On the other hand, the second mover strategy competes on prices and costs thus, with the haste products might not be effectively delivered.
However, although the strategy of the second mover would lead to a risk of inefficient delivery of products, it guarantees to grab of possible high profits in the market. The fast-second strategy consumes much time when thriving in the market. As a result, such a strategy will risk not achieving high-profit rates that drastically keep on changing. In fact, it would be accurate to say that the fast-second strategy does not focus on larger profit margins but maintaining a reputation. Therefore, the fast-second strategy benefits the business through consistency of quality products. Both strategies prove their market differences, but they still can operate in the blue ocean. The blue oceans, therefore, guarantee that the entire economy does not second-guess the vision of the player. Of course, operating in blue oceans enables the market player to deliver beyond promises as individuality is revealed (Quintero, 2013). However, the blue ocean is risky since it is not permanent. Hence, players need to disrupt themselves to avoid being caught in a comfort zone.
Reference
Kim, W. C., & Mauborgne, R. (2015). Red ocean traps. Harvard business review, 93(3), 68-73.
Quintero, R. (2013, January 2). 8 – Blue Ocean vs Red Ocean. [Video File]. Retrieved from https://www.youtube.com/watch?v=jY5EXOJFlS0