First Mover Losers
Conclusion: Waste is a normal consequence of marketing. It appears as high budgets in costly marketing channels, which can occasionally under-deliver a solid return on investment. In buoyant economic times wastage is accepted, but in a downturn, as is occurring now, alternatives are sought to improve efficiency, become more 'accountable' and cut all wastage.
In response, the typical strategy is to reduce budgets and seek cheaper alternative marketing channels. While these strategies are proven, to improve marketing investment returns a major piece of information is still missing, in good and bad times: that is, to have better information on consumer purchasing behaviour with special reference to the adoption cycle.