Successful late movers tend to be large firms with considerable resources and related experience.

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Late movers refer to companies that enter a market later than their competitors. Research suggests that successful late movers tend to be large firms with considerable resources and related experience, as they can leverage their existing strengths and make significant investments in research and development to catch up with existing competitors quickly. Small firms often struggle to compete with established players due to their limited resources and lack of brand recognition.

Successful Late Movers Tend to Be Large Firms with Considerable