Definition, Meaning & Synonyms
fast-follower
Noun
/ˈfæst ˈfɒləʊər/
Definition
A term used to describe a company or individual that quickly adopts or implements innovations or business strategies developed by others.
Examples
- Many startups act as fast-followers, taking cues from market leaders to refine their offerings.
- The technology firm established itself as a fast-follower, launching products that enhanced existing features found in competitors’ offerings.
Meaning
Fast-followers typically observe the successes and failures of early innovators and strategically enter the market after analyzing these trends, often improving upon the original ideas.
Synonyms
- Adopter
- Imitator
- Follower
