FOLLOWER OR TRAILER STRATEGIES

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Competitive "towing" strategies (also known as "follower strategies") are those in which a company concentrates on following the movements of market leaders rather than trying to outperform them. Instead of trying to innovate and lead the market, the company adopts a more conservative position and focuses on imitating and improving the practices of the market leaders. There are several reasons why a company may opt for a towing strategy rather than a leadership strategy. For example, it may not have the resources or experience to innovate and lead the market. Or it may be that the market is already saturated with strong leaders and the company decides it is wiser to follow their lead rather than try to compete directly with them.

Towing strategies often involve a focus on improving processes and reducing costs to offer products or services at a lower price than the market leaders. They may also focus on creating products or services similar to those of the market leaders, but with a lower cost than the market leaders. some unique characteristics or attributes that allow them to stand out in the market.

Some of the advantages of towing strategies include

• Lower research and development costs: By following the practices of market leaders, the company can save on research and development costs.
• Increased security: towing strategies offer greater security to companies, as they are following the example of successful companies.
• Process improvement: companies that follow the practices of market leaders often need to focus on improving their processes and reducing costs, which can be beneficial in the long run.

However, towing strategies also have some disadvantages, such as lack of innovation and the possibility of being left behind in the market if market leaders quickly change their approach or if a new competitor with innovative practices appears. Therefore, it is important for companies adopting a towing strategy to be aware of changes in the market and to be able to adapt quickly. Sorry, as a language model, I do not have access to the page you mention in your question.

However, here are three quizzes on trailing strategy: