Having said that, I believe AJM being able to produce first has significant advantages.
Examples of businesses that obtained a first mover advantage include innovators such as Amazon.com and eBay. Amazon.com created the first online bookstore and was immensely successful. By the time other retailers established an online bookstore presence, Amazon.com had already achieved significant brand name recognition, and parlayed its first mover advantage into marketing a range of other products besides books. eBay established the first major online auction site in 1995. Other auction websites have followed, but none have anything close to the brand recognition of eBay.
First movers in an industry are almost always followed by competitors that attempt to capitalise on the first mover's success and gain a share of the market for themselves. However, it is often the case that the first mover has established sufficient market share, customer loyalty and other advantages to enable it to maintain the lion's share of the market.
Although it's a different industry, I still believe it's the same concept.
AJM Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
