Clever firms are always looking for the next best thing that they can add to their product or service platforms and in the process differentiating themselves from their competitors.
If you’re No. 2 in a market, you could spend tons of time reinventing the wheel and trying to ‘discover’ something new or…
You could wait till No.1 aka the market leader has borne the costs of having a product development process, developing a new product or variation, educating the market about it, setting it into distribution and promoting it. » Read more: Market-Followers or How No.2 can be as good as No.1
