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Characteristics of a Market Leader. A market leader is typically the company holding the largest market share in a particular industry or segment of an industry. Market leaders are often recognizable by the ubiquitous presence of their brand as well as their ongoing marketing efforts.
People are willing to follow the leader because of who he or she is and what the leader stands for. A leader has followers, whereas a manager has subordinates. Power is awarded to the leader on a temporary basis and is contingent upon the leader's ability to continue to motivate and inspire followership.