First-mover advantage is also reflected

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Terms of monthly active users. The leading effect has become increasingly prominent. What does Ctrip’s dominance rely on? First of all, Ctrip has a first-mover advantage. Ctrip, founded in 2008, was the first platform in China to set foot in the industry. The second platform established after it was Qunar.com, which appeared in 2006. There was an interval of six years. These six years almost monopolized the entire industry. The first-mover advantage brought Ctrip brand recognition. The accumulation of knowledge. Companies that enter the market early are usually



able to establish a brand image through initial market education and advertising and thus occupy a place in the minds of consumers. Once this brand effect is formed, it is difficult to be easily shaken by latecomers. First-mover advantage is also Jamaica Phone Number List reflected in capital accumulation. Early-stage companies have accumulated capital for subsequent development through early profits. This capital can be used for technology upgrades, market expansion, or mergers and acquisitions of competitors. Ctrip's ability to merge with Qunar.com in a few years is the best example.





In the first quarter of 2020, during the reporting period that was still affected by the epidemic, Ctrip's net profit attributable to its parent company recorded a year-on-year turnaround of 100 million yuan, which was inseparable from its strong capital strength. Picture source Ctrip Group's annual financial report Secondly, Ctrip has completed the layout of all strata. In Ctrip's platform, Ctrip's layout in the mid-to-high-end market positions users as highly educated, high-income, and business people. Its products are spread across all categories and it deeply penetrates the market and.