Addressing competition and driving growth

5 important questions on Addressing competition and driving growth

3 main core growing strategies

1. Make the core of the brand as distinctive as possible
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

- Expanding total market demand
- Protecting market share
- Increasing market share

6 strategies for defensive marketing

  1. position defense: occupy most desirable market space in consumer's mind
  2. flank defenseL erect outposts to protect weak fronts or support possible counter attack
  3. preemptive defense: attack first and keep everyone off balance, achieve envolopment that signals competitors not to attack
  4. 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
  5. mobile defense: leader stretches its domain -> market broadening & market diversification
  6. contraction defense: give up weaker markets to protect stronger ones (strategic withdrawal)
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Consider 4 actions before increasing market share

  1. possibility of provoking anti trust
  2. economic cost
  3. danger of pursuing wrong marketing strategies
  4. effect increased market share on quality

Product life-cycle asserts 4 things

  1. Products have a limited life
  2. Product sales pass different stages,with each different variables
  3. Profits rise and fall at different stages
  4. 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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