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.