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Home→The Westburn Dictionary of Marketing→F→follower advantage

follower advantage

Definition:
The opposite of FIRST MOVER ADVANTAGE. Given that market leaders tend to have a vested interest in maintaining the status quo, most radical innovations are introduced by small entrepreneurial firms. Once it becomes clear that the new technology is likely to displace the old, the established firms are likely to enter the market with improved versions of the pioneer's new product. Given their size and market position such firms following the 'strategy of the fast second' will often displace the pioneer and so benefit from follower advantages.

Cross-References:
[first-mover advantage]

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker],.