Pioneering leadership is much more costly and only negligible experience curve effects accrue to the leader,
Technological change is so rapid that early investments are soon obsolete
It is easy for late-comers to crack the market because customer loyalty to pioneering firms is Weak.
skills and know-how developed by the market leaders can be easily copied or even surpassed by late movers. Good timing, therefore, is an important ingredient in deciding whether to be aggressive or cautious