First to Market, First to Fail? Real Causes of Enduring Market Leadership

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Managers and entrepreneurs frequently adhere to the motto of being first to market. But the authors have discovered that many pioneers fail, while most current leaders are not pioneers. Using a historical method, the authors try to determine why pioneeers fail and early leaders succeed. They have found that market leaders embody five factors critical to success: vision, persistence, commitment, innovation, and asset leverage.

Gerard J. Tellis is Jerry and Nancy Neely Professor of Marketing at the University of Southern California. Peter N. Golder is assistant professor of marketing at the Stern School of Business, New York University.

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