Being first to market — or the first to gain market share — has many advantages. Examples of brand names that are interchangeable with product function are iconic. Think Kleenex, Super Glue or Photoshop. They’re product names that we identify with the product itself: any brand of tissue is regularly referred to as Kleenex, just as any doctored photo on the internet is referred to as photoshopped. The reason? They were first to market or first to gain market share, and we as consumers tend to identify products with the company that was out of the gate first.
Speaking of right out of the gate: Amazon just delivered a blow to Google and Apple and even to their own products (Echo and Echo Dot) by releasing the Amazon Dash Wand at a price point that’s less than half than of its competitors.
Amazon is offering a $20 credit at purchase, which makes the new Dash Wand (feel) almost free. Sure, in-home artificial intelligence (AI) is still in relative infancy, but take a look at this Business Insider article, which explains how consumer adoption over the next year will be an enormous determinant in who gains control of this space.
Oh, one other (major) thing we failed to mention: users can add Dash Wand items to their Amazon Fresh grocery cart by simply scanning or saying the items’ names. What a clever tie-in with Amazon’s recent acquisition of Whole Foods.
This is synergy at its finest — right out of the gate.