Competitive Dynamics Marketing Management
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This document discusses various marketing strategies that companies can employ at different stages of the product lifecycle and during economic downturns. It explains how market leaders can expand total market demand through new customers and more usage. It also outlines strategies for market challengers to attack leaders, and approaches for followers and nichers to compete effectively. During economic downturns, the document recommends that marketers increase investment, get closer to customers, review budgets, focus on value, and fine-tune brands and offerings.
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Competitive Dynamics Marketing Management
- 1. HOW CAN MARKET LEADERS EXPAND THE TOTAL MARKET AND DEFEND MARKET SHARE
- 2. EXPANDING TOTAL MARKET DEMAND New Customers More Usage ShivamVerma || IIT Delhi
- 3. NEW CUSTOMERS Market Penetration Strategy New Market Segment Strategy Geographical Expansion Strategy ShivamVerma || IIT Delhi
- 4. MOREUSAGE Additional Opportunities to Use the Brand NewWays to Use the brand ShivamVerma || IIT Delhi
- 5. PROTECTING THE MARKET SHARE Proactive Marketing Defensive Marketing ShivamVerma || IIT Delhi
- 6. Proactive Skills ResponsiveAnticipation Creative Anticipation Proactive Firms are: Are ready to take risks and make mistakes Have a vision of the future and of investing in it Have the capabilities to innovate Are flexible and nonbureaucratic Have many managers who think proactively PROACTIVE MARKETING ShivamVerma || IIT Delhi
- 7. DEFENSIVE MARKETING Six types of defense strategies ShivamVerma || IIT Delhi
- 8. INCREASING MARKET SHARE The possibility of attracting legal action for violating the competition Act or Antitrust law EconomicCost The danger of pursuing the wrong marketing activities The effect of increased market share on actual and perceived quality ShivamVerma || IIT Delhi
- 9. HOW SHOULD MARKET CHALLENGERS ATTACK MARKET LEADERS
- 11. MARKET- CHALLENGER STRATEGIES Defining the Strategic Objective and Opponents Choosing a GeneralAttack Strategy Choosing a SpecificAttack Strategy ShivamVerma || IIT Delhi
- 12. DEFINING THE STRATEGIC OBJECTVE AND OPPONENTS(S) It can attack the Market Leader It can attack firms its own size that are not doing the job and are underfinanced It can attack small local and regional firms ShivamVerma || IIT Delhi
- 13. CHOOSINGA GENERAL ATTACK STRATEGY Frontal Attack FlankAttack EncirclementAttack BypassAttack GuerrillaAttack ShivamVerma || IIT Delhi
- 14. CHOOSINGA SPECIFIC ATTACK STRATEGY Any aspect of marketing can serve as basis for attack Lower priced products Discounted products New or improved products and services Wide variety of offerings Innovative distribution strategies etc. ShivamVerma || IIT Delhi
- 15. HOW CAN MARKET FOLLOWERS OR NICHERS COMPETE EFFECTIVELY
- 16. MARKET- FOLLOWER STRATEGIES MarketLeaders Innovator bears the expense of developing a new product, getting distribution, educating the market Reward for work and risk- market leadership MarketFollowers Copy or improve the new product Achieves high profit because no innovation cost ShivamVerma || IIT Delhi
- 18. MARKET- NICHER STRATEGIES Leader in a small market Large profitable firms also use niching strategies ROI in smaller markets > larger markets Nicher achieves high margin, mass marketer achieves high volume ShivamVerma || IIT Delhi
- 19. MARKET- NICHER STRATEGIES Protecting niches Expanding niches Creating niches • High risk of drying up • Can weaken the firm => continually create new ones • Multiple niching • Entrants should focus at niches initially ShivamVerma || IIT Delhi
- 21. WHAT MARKETING STRATEGIES ARE APPROPRIATE AT EACH STAGE OF THE PRODUCT LIFE CYCLE
- 22. PRODUCT LIFECYCLE ShivamVerma || IIT Delhi
- 23. COMMON PLC PATTERNS Growth Slump Maturity Cycle-Recycle Pattern Scalloped ShivamVerma || IIT Delhi
- 24. STYLE, FASHIONAND FAD LIFE CYCLES ShivamVerma || IIT Delhi
- 25. MARKETING STRATEGIES- INTRODUCTION Inform potential Induce product trial Secure distribution ShivamVerma || IIT Delhi
- 26. MARKETING STRATEGIES- INTRODUCTION Long term Market Leadership Vision of Mass Market Persistence Relentless Innovation Financial Commitment Asset Leaverage ShivamVerma || IIT Delhi
- 27. MARKETING STRATEGIES- GROWTH Men’s fairness creams such as Fair and Handsome use well known film and cricket stars and offers entertainment, information, and advice in a bid to capture customer attention in a market that is getting increasingly crowded. ShivamVerma || IIT Delhi
- 28. MARKETING STRATEGIES- MATURITY Market Modification • Expand Number of Users • Increase the Usage rate among Users Product Modification • Quality Improvement • Feature Improvement Marketing Program Modification • Price, Distribution • Communication ShivamVerma || IIT Delhi
- 29. MARKETING STRATEGIES- DECLINE Declining Sales Low Cost per Customer Declining Profits Laggards ShivamVerma || IIT Delhi
- 30. HOW SHOULD MARKETERS ADJUST THEIR STRATEGIES AND TACTICS FOR AN ECONOMIC DOWNTURN OR RECESSION
- 31. MARKETING IN ECONOMIC DOWNTURN EXPLORETHE UPSIDE OF INCREASING INVESTMENT ShivamVerma || IIT Delhi
- 32. MARKETING IN ECONOMIC DOWNTURN GET CLOSERTO CUSTOMERS ShivamVerma || IIT Delhi
- 33. MARKETING IN ECONOMIC DOWNTURN REVIEW BUDGET ALLOCATIONS ShivamVerma || IIT Delhi
- 34. MARKETING IN ECONOMIC DOWNTURN PUT FORTHTHE MOST COMPELLINGVALUE PROPOSITION ShivamVerma || IIT Delhi
- 35. MARKETING IN ECONOMIC DOWNTURN FINETUNE BRAND AND PRODUCTOFFERING ShivamVerma || IIT Delhi
- 36. CREDITS All Photos are taken from google images and Book on ‘Marketing Management’ by Kotler ShivamVerma || IIT Delhi
- 37. THANKYOU ShivamVerma || IIT Delhi
- 38. Disclaimer Created by ShivamVerma, IIT Delhi, during an internship with Prof. Sameer Mathur, IIM Lucknow,www.IIMInternship.com ”