Chapter 12: Addressing Competition and Driving Growth
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Marketing Management Class v83 AGSB
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Chapter 12: Addressing Competition and Driving Growth
- 1. CHAPTER 12: Addressing Competition and Driving Growth linkedin.com/in/florabel-maquiraya-mcphee
- 2. OUTLINE I. GROWTH Growing the Core: Main Strategies | The Hypothetical Market Structure II. COMPETITIVE STRATEGIES FOR MARKET LEADERS Expanding Total Market Demand | Protect Market Share | Increase Market Share III. OTHER COMPETITIVE STRATEGIES Market Challenger | Market Follower | Market Nicher linkedin.com/in/florabel-maquiraya-mcphee
- 3. I. GROWTH Growth is essential for the success of any firm. Thus, to be a long-term market leader is the goal of any marketer. linkedin.com/in/florabel-maquiraya-mcphee
- 4. GROWING THE CORE: MAIN STRATEGIES 1. Make the core of the brand as 2. Drive 3. Offer the core product in linkedin.com/in/florabel-maquiraya-mcphee possible existing and new channels. through both
- 5. THE MARKET LEADER THE MARKET CHALLENGER THE MARKET FOLLOWER THE MARKET NICHER linkedin.com/in/florabel-maquiraya-mcphee THE HYPOTHETICAL MARKET STRUCTURE
- 6. II. COMPETITIVE STRATEGIES FOR MARKET LEADERS linkedin.com/in/florabel-maquiraya-mcphee
- 7. A. EXPANDING TOTAL MARKET DEMAND Market-Penetration Strategy New-Market Segment Strategy Geographical-Expansion Strategy NEW CUSTOMERS Additional Opportunities to Use the Brand New Ways to Use the Brand MORE USAGE linkedin.com/in/florabel-maquiraya-mcphee
- 9. B. PROTECT MARKET SHARE Responsive Marketing Anticipative Marketing Creative Marketing PROACTIVE MARKETING linkedin.com/in/florabel-maquiraya-mcphee
- 11. B. PROTECT MARKET SHARE DEFENSIVE MARKETING Position Defense Flank Defense Preemptive Defense Counteroffensive Defense Mobile Defense Contraction Defense linkedin.com/in/florabel-maquiraya-mcphee
- 13. C. INCREASE MARKET SHARE FACTORS TO CONSIDER 1. Possibility of Antitrust Action 2. Economic Cost 3. Dangers of Wrong Marketing Activities 4. Effect on Actual and Perceived Quality linkedin.com/in/florabel-maquiraya-mcphee
- 16. A. MARKET-CHALLENGER STRATEGIES Attack the Market Leader Attack similar firms that are not doing the job and are underfinanced Attack small local and regional firms Attack the status quo DEFINE THE STRATEGIC OBJECTIVE AND OPPONENT(S) linkedin.com/in/florabel-maquiraya-mcphee
- 17. A. MARKET-CHALLENGER STRATEGIES CHOOSE A GENERAL ATTACK STRATEGY Market Challenger (1) Frontal Attack Market Leader (3) Encirclement Attack (5) Guerilla Attacks (2) Flank Attack (4) Bypass Attack Strategic Objective Copyri ght © 2016 Pearson Educati on, Inc. linkedin.com/in/florabel-maquiraya-mcphee
- 19. B. MARKET-FOLLOWER STRATEGIES A strategy of product imitation might be as profitable as a strategy of product innovation. - Theodore Levitt CLONER IMITATOR ADAPTER linkedin.com/in/florabel-maquiraya-mcphee
- 21. C. MARKET-NICHER STRATEGIES BE A LEADER IN A SMALL MARKET THROUGH MULTIPLE NICHING Create Niches Expand Niches Protect Niches linkedin.com/in/florabel-maquiraya-mcphee
- 23. KEY TAKEAWAYS 1. Growing the core is often a prudent way to increase sales and profits . 2. To remain dominant, a market leader looks to expand total demand and protect and perhaps increase its current share. 3. A market challenger attacks the market leader and other competitors in an aggressive bid for more market share. 4. A market follower is a runner-up firm willing to maintain its market share and not rock the boat. 5. A market nicher serves small market segments ignored by larger firms. The key is specialization, which can command a premium price in the process. 6. Companies should maintain a good balance of consumer and competitor monitoring. linkedin.com/in/florabel-maquiraya-mcphee
- 24. REFERENCE Keller, K. & Kotler, P. (2016). Marketing management. Uttar Pradesh, India: Pearson India Education Services Pvt. Ltd. linkedin.com/in/florabel-maquiraya-mcphee