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How can market followers or nichers compete effectively?

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Vaishnavi Ketharnathan
Vaishnavi Ketharnathan
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Competitive dynamics How can market followers or nicher’s compete effectively
Who are Market Followers Imitate and improve the already existing Market leading products. Achieve high profits due to no innovation cost.
e.g. Karbonn Mobiles
Who are Market Nicher Serve a narrow Market segment Provide Customized Services Leader in small Market Achieve High Margin Gain
To Compete effectively Bring distinctive advantages to target market
Low Manufacturing costs
High Product quality
High Customer Services
Pricing less than the Leader
Offer high value
Shape a strong corporate culture and vision
Followers in large markets are leaders in small markets
Created by Dipanshu Sehjal, IIIT Allahabad During a Marketing internship under Prof. Sameer Mathur, IIM Lucknow (See www.IIMInternship.com)

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How can market followers or nichers compete effectively?