How product innovators can foreclose the options of adaptive followers

Abstract

Some product innovation strategists today urge managements to try to be the first to market major advances. Innovation holds many answers to competition within an industry, to market regeneration, and to international pressures. Yet other product innovation strategists urge managements to be innovative imitators, or quick seconds, or early adaptors—in other words, second but better. Followers frequently take the advantage away from innovators. Is there an answer for innovators? This article describes one: foreclose on the options left for the followers by bringing your own stream of follow‐ons to market. The author tells how to implement such a policy and what some of the risks are.