The benefits of being a first mover

Prompt: Three factors affect the likelihood that a competitor will take competitive actions. Write a paper about the benefits of being a first mover; the response of a second mover and the response/characteristics of the late mover. Include a discussion of customer loyalty and earning above average returns. Also, discuss the effect of competitor response to returns earned.
Requirements: The paper should be at least 275 words in length. Use APA format and provide a minimum of three peer reviewed references.