fast following

While speed is not all that is, there are certain market contexts when speed becomes a critical feature to become relevant in an industry quickly.

When that happens, we move into the world of fast following, which is a straightforward approach, yet it only works under specific circumstances.

Indeed, a fast follower is an organization that waits for a competitor to innovate successfully before imitating it with a similar product.

Let me cover this in detail, but first, I will provide a visual representation of what I’ll cover in this issue. Then, I will define first-mover and the drawbacks that come with it, and then I will get down to the fast-following strategy!