This slide will give overview of leader, challenger & followers. it also added the market nicher. here you will get which kind of strategy is required to defence, attack & protect
Every company desiring to stay competitive must design broad competitive marketing strategies by which it can gain a sustainable competitive advantage. But what broad marketing strategies might the company use? Which ones are best for a particular company or for the companyโs different divisions and products? No one strategy is best for all companies. Each company must determine what makes the most sense given its position in the industry and its objectives, opportunities, and resources. Even within a company, different strategies may be required for different businesses or products. Johnson & Johnson uses one marketing strategy for its leading brands in stable consumer markets, such as BAND-AID, Tylenol, Listerine, or J&Jโs baby products, and a different marketing strategy for its high-tech health-care businesses and products, such as Monocryl surgical sutures or NeuFlex finger joint implants. So you understand that no one best strategy truly exist for all firms. But which strategy is best for which company? This chapter attempts an appropriate respond to the question.
What are the various strategies adopted by the companies in today's world of competition, how they will succeed in long run, what they want to achieve & how can they achieve??
It is all about strategies adopted , Let us learn them out
This slide will give overview of leader, challenger & followers. it also added the market nicher. here you will get which kind of strategy is required to defence, attack & protect
Every company desiring to stay competitive must design broad competitive marketing strategies by which it can gain a sustainable competitive advantage. But what broad marketing strategies might the company use? Which ones are best for a particular company or for the companyโs different divisions and products? No one strategy is best for all companies. Each company must determine what makes the most sense given its position in the industry and its objectives, opportunities, and resources. Even within a company, different strategies may be required for different businesses or products. Johnson & Johnson uses one marketing strategy for its leading brands in stable consumer markets, such as BAND-AID, Tylenol, Listerine, or J&Jโs baby products, and a different marketing strategy for its high-tech health-care businesses and products, such as Monocryl surgical sutures or NeuFlex finger joint implants. So you understand that no one best strategy truly exist for all firms. But which strategy is best for which company? This chapter attempts an appropriate respond to the question.
What are the various strategies adopted by the companies in today's world of competition, how they will succeed in long run, what they want to achieve & how can they achieve??
It is all about strategies adopted , Let us learn them out
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1. MG 220 Marketing Management
MBA 10
Fall 2010
Muhammad Talha Salam, Asst. Professor
talha.salam@nu.edu.pk
Access it online: www.slideshare.net/talhasalam
Part 4:
Building Strong Brands
> Competitive Strategies for Market Leaders
> Other Competitive Strategies
> Balancing Customer & Competitive Orientations
> Case Study 1: ABN AMRO (Class Discussion)
> Quiz 5: Part 4 (Chap 9 & 10 โ 12/ed. OR Chap 10 & 11 โ
13/ed.)
Class Presentation | Session 17 | 13 Oct 2010
2. Access it online: www.slideshare.net/talhasalam
Competitive Strategies for Market
Leaders
โข Different roles firms can have in a target market:
โ Leader
โ Challenger
โ Follower
โ Nicher
โข In most of industry, there is an established market leader.
โ Mobilink (Celcos), Gillette (Razors), TCS (Courier) etc.
โข Although they have distinct place but unless they are a legal monopoly,
they face tough time always!
โข Staying a leader requires careful strategic action:
โ Finding ways to Expand Total Market Size
โ Must Protect current Market Share
โ Try to increase Market Share (even if current market size is not increasing)
MG 220 Marketing Management 2
3. Access it online: www.slideshare.net/talhasalam
Competitive Strategies for Market
Leaders
Expanding the Total Market
โข If overall market size increases, biggest gainer is Market Leader
โข Different ways of doing it:
โ New Customers
โข Market Penetration strategy Users who might use it but donโt
โข New-Market segment strategy Users who have never used it
โข Geographical-expansion strategy Users who live elsewhere
โ More Usage
โข Increase level/quantity of consumption
โข Increase frequency of consumption
โข Identify other uses (food products finding new recipes)
โข Communicating effectively as to when it should be replaced
โ Product development can also spur new uses
โข Consider Maggi
MG 220 Marketing Management 3
4. Access it online: www.slideshare.net/talhasalam
Competitive Strategies for Market
Leaders
Protecting/Defending Current Market Share
โข Leader is like a large elephant swarmed by bees
โข While increasing share and market size, it must also continuously defend its current
business
โข Continuous innovation โ to keep increasing its competitive strength and value to
consumers
โข In this process of satisfying customer needs, a firm may be engaged in:
โ Responsive marketing โ finding needs and fulfilling them
โ Anticipative marketing โ looking ahead into what needs a customer may have in future
โ Creative marketing โ Discovering & creating solutions not asked for!
Sony is a market-driving firm not a market-driven firm.
Sony doesnโt serve markets, Sony creates markets
MG 220 Marketing Management 4
5. Access it online: www.slideshare.net/talhasalam
Competitive Strategies for Market
Leaders
Protecting/Defending Current Market Share (โฆcontd.)
โข Defending is just like military defensive strategy. Any of these six positions can be taken
โข All of these points have examples in branding strategies by brands. If their strategies are
observed carefully, these patterns of defensive strategy can be seen clearly
โ Position defense โ Occupying most desirable position in market & minds of consumers and making it impregnable
โ Flank defense โ Creating outposts to protect weak fronts or even launch counterattacks
โ Preemptive defense โ Attack before enemy does
โ Counteroffensive defense โ Responding to attack by launching own strategy against rival
โ Mobile defense โ Leader can stretch its domain and move into new territories
โ Contraction defense โ Companies at times realize that they cannot defend all of their territory and go for a
planned contraction (also known as strategic withdrawal)
MG 220 Marketing Management 5
6. Access it online: www.slideshare.net/talhasalam
Competitive Strategies for Market
Leaders
Increase/Expand Market Share
โข Gaining one share point can be worth millions in revenue
โข Leader must always focus on carefully increasing market share
โข Market share increase may not always imply increased profitability and
has its own share of problems
โข Key considerations
โ Possibility of provoking anti-trust
โ Economic cost โ Concept of optimal market share. Ahead of this value, profitability
may actually decline
โ Pursuing wrong marketing-mix strategy
โ Effect of increased market share on actual perception and perceived quality
MG 220 Marketing Management 6
7. Access it online: www.slideshare.net/talhasalam
Other Competitive Strategies
Market-Challenger Strategies
โข Market Challengers set high aspirations and leverage their resources at fullest
while market leader often runs business as usual
โข Strategies used by Market-Challenger
โ Defining the strategic objective & opponent(s)
โข It can attack the market leader
โข It can attack firms of its own size
โข It can attack small local and regional firms
โ Choosing a general attack strategy
โข Frontal attack
โข Flank attack
โข Encirclement attack
โข Bypass attack โ technological leapfrogging
โข Guerrilla warfare
โ Choosing a specific attack strategy
โข Many options available
MG 220 Marketing Management 7
Examples of Specific attack strategy
Price discount,
Lower priced goods,
Value-priced goods & services,
Prestige goods,
Product proliferation,
Product innovation,
Improved services,
Distribution innovation,
Manufacturing-cost reduction,
Intensive advertising promotion
8. Access it online: www.slideshare.net/talhasalam
Other Competitive Strategies
Market-Follower Strategies
โข Many firms prefer following market leader rather than challenging
โข Strategies used by Market-Followers
โ Counterfeiter
โ Cloner
โ Imitator
โ Adapter
MG 220 Marketing Management 8
9. Access it online: www.slideshare.net/talhasalam
Other Competitive Strategies
Market-Nicher Strategies
โข Consider being a leader in a small market
โข Nichers get to know their customers so well that they also charge premium
โข Creating/Identifying niches is a continuous process
MG 220 Marketing Management 9
10. Access it online: www.slideshare.net/talhasalam
Balancing Customer & Competitive
Orientations
โข Competitive Orientation
โ Companies always observe & focus on competitors
โ Fighterโs orientation
โ Always observing strategies, strengths and weaknesses for competitors
โข Customer Orientation
โ Focusing mainly on customers rather than competition
โ Better placed to identify new opportunities
MG 220 Marketing Management 10
11. MG 220 Marketing Management
MBA 10
Fall 2010
Muhammad Talha Salam, Asst. Professor
talha.salam@nu.edu.pk
Access it online: www.slideshare.net/talhasalam
Part 5:
Shaping the Marketing Offerings
> LEFTOVER TOPIC FROM CHAP 10: Devising Brand Strategy
> Product Characteristics
> Product & Brand Relationships
> Differentiation
> Case Study 2: LEGO
Class Presentation | Session 18 | 18 Oct 2010