Time based competition: First to market advantage

A study in the hotel industry using an economic model showed clear advantages for entering a market early and none for entering the same market late (Seul, SooCheong, 2013). Since customer value relies on speed in the time based competition (TBC) utility is justified. Marketing is backed by the manufacturing process to get the promised product to the consumer market. TBC has been associated with the just-in-time manufacturing process found in operations management literature (Swamidass, 1991). Relationships are necessary between the marketing department who gains customer interest, and manufacturing that creates the tangible goods or services, third is supply or logistics division. Getting a service or product first to market does not account for the eighty-five percent of failed small business each year. The reason why so many failed business ideas are unaccounted for is because of their short-span of operation makes detection nearly impossible. Separately of course there are successful manufacturing plants, marketing departments and firms, and logistics corporations. The interesting phenomena is the relationship required among each entity required to make the segments successful. In conclusion although there is small empirical evidence to support such a claim that successful businesses have good relationships with their contingent counterparts, such a study could be useful. Reference Seul, K.L. SooCheong, S.J. (2013). Early mover or late mover advantage for hotels? Journal of Hospitality & Tourism Research 41, (1). 23 - 40. doi: 10.1177/1096348013503995 Swamidass, P.M.(1991). Book review: Competition against time: How time baaed competition is reshaping global markets. Journal of Management. 17(4).841-843. doi:10.1177/014920639101700419