There are two types of market strategies for companies that are not market leaders: market nichers and market followers. Market nichers identify and serve narrow customer segments with customized services, becoming leaders in small markets and achieving high margins. Market followers copy and improve existing market-leading products, enjoying high profits without innovation costs, offering customers high value, customized service, and flexibility. Some market followers operate in large markets but lead in smaller niche markets.

1. Competitive dynamics
How Can Market
Followers or
Nichers Compete
Effectively?

2. Market Nichers
Market
Followers
2 Types of
Market
Strategy

3. Method 1: Identify the Market Nichers
Who are they?
Provide Customized Services
Serve a Narrow Market Segment
Leader in Small Market
Achieve High Margin

4. Example of a Nicher

5. Method 2: Market Followers
They Copy & Improve the already
existing Market Leading Products and
have comparatively Small Business
They Enjoy High Profits having no
cost incurred because of Innovation
Who are
market
followers

6. Example of a Market Follower

7. What Market Followers Offer
1)High Value
2) Highly Customized Service
3)Flexibility

8. Followers in Large Market but
Leaders in Smaller Markets