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The term fast follower refers to a company that quickly imitates a competitor’s innovation.
Pay per click was the invention of a company called Overture. Google was just a fast follower who nevertheless improved this advertising model to such extent that nobody even remembers Overture today.
Being a pioneer can be rather risky. It may cost a lot, and the outcome might not turn out to be a success. Therefore, many companies choose instead to pursue a fast follower strategy. That means they let the market leader (also termed the first mover) to undertake all the upfront risks and then they imitate only the successful part. However, there are also disadvantages to this approach. The first mover may already have gained a significant market share so that a fast follower has to work really hard to offer a solution that is better in some ways. Meanwhile, the follower will not benefit from the experience of having already tested the many options which did not work.
Termínem fast follower, tedy rychlý následovník, se označuje firma, která rychle napodobí nějakou inovaci konkurence.
Platba za kliknutí (pay-per-click) je vynálezem společnosti Overture. Google byl jen fast followerem, který nicméně tento reklamní model zdokonalil do takové míry, že si dnes na Overture nikdo ani nevzpomene.
Být průkopníkem může být poměrně riskantní, může to stát hodně peněz a úspěch se nemusí nutně dostavit. Proto se mnoho společností rozhoduje místo toho pro strategii tzv. rychlého následovníka, což znamená, že nechají lídra trhu (nazývaného také first mover) podstoupit všechna počáteční rizika a napodobí pouze to, co zafungovalo. Tento přístup má ale samozřejmě i své nevýhody. First mover již mohl získat významný podíl na trhu, takže fast follower musí opravdu tvrdě pracovat na tom, aby nabídl řešení, které je v některých ohledech lepší, přičemž nemá zkušenosti s testováním mnoha variant, které se neosvědčily.
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English Editorial Services’ mission is to assist international businesses and organizations of all sizes to communicate clearly, correctly, and persuasively with their business partners and target audiences.
Simply subscribe to receive our Business Term of the Day at no charge to your inbox each business day, with explanation in English and Czech.
