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Definition: a Market Follower Strategy is a form of strategic planning based on product imitation. After an innovator bore the expense of developing a new product, bringing in the technology, breaking entry barriers and educating the market, the firm using this form of strategy comes along, copying and/or improving the product of its competitor. |
Learn more about Market Follower Strategies More on business strategy: 3C's Model of Ohmae, Ansoff Matrix, Business Continuity Planning, Business Model, Business Model Canvas, more... You may also like: Full-time MBA, Executive MBA, Executive Education, Online MBA. MBA Brief offers concise, yet precise definitions of concepts, methods and models as taught in a study Master of Business Administration. We like to keep things short, and provide links to learn more about your subject.
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