Addressing competition and driving growth
5 important questions on Addressing competition and driving growth
3 main core growing strategies
2. Drive distribution through both existing and new channels
3. offer the core product in new formats and versions
3 competitive strategies to stay market leader
- Protecting market share
- Increasing market share
6 strategies for defensive marketing
- position defense: occupy most desirable market space in consumer's mind
- flank defenseL erect outposts to protect weak fronts or support possible counter attack
- preemptive defense: attack first and keep everyone off balance, achieve envolopment that signals competitors not to attack
- counteroffensive defense: market leader can meet attacker frontally and hit its flank or launch pincer movement so it has to pull back and defend itself
- mobile defense: leader stretches its domain -> market broadening & market diversification
- contraction defense: give up weaker markets to protect stronger ones (strategic withdrawal)
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Consider 4 actions before increasing market share
- possibility of provoking anti trust
- economic cost
- danger of pursuing wrong marketing strategies
- effect increased market share on quality
Product life-cycle asserts 4 things
- Products have a limited life
- Product sales pass different stages,with each different variables
- Profits rise and fall at different stages
- Product require different marketing, financial, manufacturing and purchasing and human resource strategies at each stage
The question on the page originate from the summary of the following study material:
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