The _____ problem exists when rivals watch a pioneer's efforts, learn from their successes and missteps, and then enter the market quickly with a comparable or superior product at a lower cost.
A) late entrant
B) early starter
C) first mover
D) intellectual property
E) fast follower

Question

Quizplus · Accepted Answer

The "fast follower" problem occurs when competitors observe the initial efforts of a pioneering company, learn from its experiences, and then swiftly enter the market with a similar or better product at a lower price, leveraging the pioneer's insights without bearing the same initial costs or risks.

The _____ Problem Exists When Rivals Watch a Pioneer's Efforts