Not all companies like to be the first to launch new products. Some businesses let other companies take the lead in launching new merchandise. If the innovation is successful, they follow in its footsteps and imitate it. For innovations protected by patent rights, imitators must wait until the patent rights are invalid before they can intervene. However, when patent rights do not exist, imitators strive to design their products to be similar to the innovator's products in order to compete with the innovator's products. The operability of imitation strategies Imitation strategies are also very useful for companies that want to enter new markets without spending large sums of money on acquisitions or developing new products. For example, Owens-Illinois brought experimental glass to the home drinking vessel market. Although imitation strategies can avoid the risks of innovation, it is wrong to assume that all new products can be successfully imitated. Marketing of copycat products must be documented and executed with the same care as innovation. Imitation strategies can greatly help market share and growth. Justification of imitation strategy An imitation strategy is justified because it transfers the risk of launching an unapproved idea/product to others. This strategy also saves R&D costs. This strategy is particularly suitable for companies with limited resources. In fact, many companies have the ability to imitate any product. Because only limited investments in R&D are required, imitators sometimes have lower costs, giving them a cost advantage over the market leader. Another important reason for adopting an imitation strategy is that companies can transfer skills specific to one product to similar products. For example, Bic Pen Company decided to enter the sensor knife business because it believed it could leverage its favorable marketing position in this market. In the early 1970s, the Hanes Company achieved astonishing success with Leggs, a stocking sold on food and drug store shelves. The role of imitation strategies Imitation strategies can be used for defensive considerations. Companies may initially ignore new developments in the field due to confidence in existing products. However, if new developments become clearer, they may take away market share from existing goods. In this situation, firms may be forced to imitate new developments in order to survive. Colorado-based Adolph Coors initially ignored the impact of the light beer launch, dismissing Miller Lite as a passing fad. Years later, however, the company suffered a blow with Miller Lite. Likewise, Anheuser-Busch began to challenge Coors' supremacy in the California market with light beers. Under this harsh situation, Coors decided to abandon the tradition of single products and launch a low-calorie light beer. Another example of product imitation is provided by Anheuser-Busch. It launches Michelob Golden Draft, modeled after Miller Brewing Company's Miller Genuine Draft. The new Michelob is available in the same clear bottle as Genuine Draft and has similar black and gold branding.