These types of firms have low market shares and do not have the resources to be serious competitors. They are sometimes referred to as 'also-rans' and often adopt me-too strategies when the market leader takes an initiative.

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Market followers are firms with low market shares compared to leaders, lacking the resources to compete aggressively. They often imitate the actions of market leaders without directly challenging them, hence the term 'also-rans' and the adoption of me-too strategies.

These Types of Firms Have Low Market Shares and Do