Session V Competitive Strategies in Marketing

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Session VCompetitive Strategies in Marketing
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Roles in the Competitive Arena
Market Leader
The firm with the largest market share
A runner-up firm that is fighting hard for
increased market share
Market Challenger
Another runner-up firm that is willing to
maintain its market share and not rock the boat
Market Follower
The remaining firms that serve small market
segments not being served by larger firms
Market Nichers
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A. Strategies for Market Leader

• The firm must find ways to expand total market
  demand
• The firm must defend its current market share
  through good defensive and offensive actions
• The firm can try to increase its market share
  further, even if market size remains constant

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A-1. Expanding the Total Market
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A-2. Defending Market Share
Defender (Leader)
Attacker
1. Position defense
4. Counter- offensive defense
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A-3. Expanding Market Share

• Develop and add more new products to the line
• Increase the product quality relative to
  competitors
• Increase the marketing expenditures faster the
  rate of market growth to achieve share gains
• Avoid price cut, but offer other values to the
  customers

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B. Strategies for Market Challenger

• Defining the strategic objective and opponent(s)
• Attack the market leader
• Attack firms of its own size that are not doing
  the job and are underfinanced
• Attack small firms that are not doing the job and
  are under financed
• Choosing a general attack strategy

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B. Strategies for Market Challenger
Attacker (Challenger)
Defender
5. Guerrilla attack
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C. Strategies for Market Follower

• A market follower must know how to hold current
  customers and win a fair share of new customers
• Followership strategies
• Counterfeiter
• Cloner
• Imitator
• Adapter

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D. Strategies for Market Nicher

• The firms with low shares of the total market can
  be highly profitable through smart niching
• Three tasks of nichers
• Creating niches
• Expanding niches
• Protecting niches
• The key is specialization
• Single niching v.s. multiple niching

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Selecting Competitors

• Decide whom to attack
• Strong v.s. weak
• Close v.s. distant
• Good v.s. bad
• The market concept of competition reveals a
  broader set of actual and potential competitors
• Marketers must overcome marketing myopia and
  stop defining competition in traditional category
  terms

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Bad Competitors

• Every industry contains good and bad competitors
• Bad competitors violate the rules
• Buy share rather than earn it
• Take large risks
• Invest in overcapacity
• Upset the industrial equilibrium

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Good Competitors

• Good competitor play by the industrys rules
• Make realistic assumptions about the industrys
  growth potential
• Set prices in a reasonable relation to costs
• Favor a healthy industry
• Limit to a portion or segment of the industry
• Motivate others to lower costs or improve
  differentiation
• Accept the general level of share and profits

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705499Seminar in Marketing