Roy's Blog

December 10, 2012

This happens when you want to be a daring fast follower

Some organizations declare a fast follower strategy and claim that it is less risky than being a first mover.

The first mover is first-in the market with a new idea, original technology or revolutionary product.

Risk level can be high as customer response is uncertain while investments can be material.

The fast follower hopes to be in fast with a me-too response to the first mover and capture some of the market success of the innovation.

Fast follower

Risk is believed to be lower as the market response to the first mover can be observed and market entry strategy adjusted based on what is seen.

The fast follower is a copycat. Sure, they may tweak what the first mover does, but essentially they are going to market with the same proposition.

The fast follower is another version of emulating best-in-class or best-of-breed. Except in this case, the strategy is to be a fasr copycat.

They strive to be the same as the first mover as soon as possible!

Rather than slowly inching themselves further into the competitive herd, they RUN into it.

Copying, disguised in any way, is risky as it prevents you from achieving a unique and special — vis-a-vis the competition — position in the market.

There can be no more risky position than that.

Cheers,
Roy

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  • Posted 12.10.12 at 10:41 am by Roy Osing
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