병원산업에서의 시장 초기진입과 시장선도자의 경쟁우위 원천변화에 대한 연구
A Study on the Determinants of Entry Barriers: First-Mover Advantages in the Korean Medical Industry
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This study empirically investigates the existence of first-mover advantages in the Korean medical industry and the extent to which such advantages change across different developmental stages of the industry. Specifically, this paper focuses on identifying key barriers to sustain the market power for potential new entrants in the Medical industry. The results showed that the first-mover advantages characterizing the Medical industry did exist, though these differed widely across the different industries and over time. At the early stage, the capacity to develop new product and services and the customer transfer cost served as the key competitive advantages while the strategic alliances and networking were viewed as the factors influencing the market at the later stage. More importantly, for the Medical industry, brand power was found to be important at the early stage and the services development at the later stage. With regard to the casuality industry, services development dominates at the early stage while brand power was considered to be important at the later stage. This study provides individual Medical firms with some implications applicable to developing growth strategy within the competitive Medical market.
Abstract
This study empirically investigates the existence of first-mover advantages in the Korean medical industry and the extent to which such advantages change across different developmental stages of the industry. Specifically, this paper focuses on identifying key barriers to sustain the market power for potential new entrants in the Medical industry. The results showed that the first-mover advantages characterizing the Medical industry did exist, though these differed widely across the different industries and over time. At the early stage, the capacity to develop new product and services and the customer transfer cost served as the key competitive advantages while the strategic alliances and networking were viewed as the factors influencing the market at the later stage. More importantly, for the Medical industry, brand power was found to be important at the early stage and the services development at the later stage. With regard to the casuality industry, services development dominates at the early stage while brand power was considered to be important at the later stage. This study provides individual Medical firms with some implications applicable to developing growth strategy within the competitive Medical market.
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