Explanation:

A market follower is a company that follows what the leader in its sector does. A market follower does not like taking risks, i.e., it is the opposite of a maverick. Instead, it waits and observes what its competitors do, especially the market leader. It then only adopts the leader’s successful strategies. A market follower may be second to the market leader in a particular industry. It does not want to lose its share by disrupting the status quo.

This type of company never challenges the leader. However, it can usually maintain market share with significantly lower investment costs than the market leader.