in todays world, there is a rise in both, the number of products and the number of competitors in the market. look closely at the accounts of any good company and you will find ways being implemented to manage costs. the crux of beating your competitors is to have your own unique position in the mind of the consumers. at this point of time it is very important to take the competitors as a frame of reference and to have a marketing plan which is better than the competitors and helps you in achieving the numbers that you are targeting. in this case, proper implementation of the marketing plan is the key to marketing success.
and hence, you need to be the best in this area. do regular market studies and consumer buying behavior analysis to determine the mindset of the customer. on the other hand, you need to know all the products of all your competitors to launch a product which is unique in the market and has the first mover advantage. thus your channel too needs to be informed of the features of your product. this is why information and its dissemination is crucial to beat your competitors.
other firms continually challenge the leader’s strengths or try to take advantages of its weaknesses. the focus of expanding the total market depends on where the product is in its life cycle. market leaders can look for new users, new uses, and more usage of its products when the product is in the maturity stage of the product life cycle. when the leader tries to expand the total market size, it must also continuously defend its current business against enemy attacks. similarly, hero honda should constantly maintain its guard against bajaj, honda, suzuki and tvs in the two-wheeler market. this strategy involves allocating maximum resources into the current successful brands.
this strategy both guards the market position of leading brands and develops some flank market niches to serve as a defensive corner either to protect a weak front or to establish an invasion base for counterattack, if necessary. for example, titan launched more brands and sub-brands to corner the market share of hmt watches in the early 1990s. this strategy involves the leader broadening and expanding its territories to new market areas by diversifying. the leader takes innovation works in both these directions. this strategy involves retrenching into areas of strength and is often used in later stages of a product life cycle or when the firm has been under considerable attack. in conclusion, market leaders who stay on top have learned the art of expanding the total market, defending their current territory, and increasing their market share and profitability. no newcomers dare enter in to the market as the top brands of tata, hul, and nestle guard their share so successfully.
7 strategies of market leaders 1) covering the market globally and locally 2) expand smartly 3) control costs 4) implement good marketing 1. expand the total market strategy: market leader firms can normally gain the maximum when the total market expands. the focus of expanding the total market you may find industries dominated by only one firm. the largest share of the market is occupied by the said firm and is known as the market leader., market challenger strategies, market challenger strategies, market follower strategies, competitive strategies for market leader, market leader defense strategies.
competitive strategies for market leaders ; 1.expanding the total market: ; 2.defending market share: position defence: building superior brand the three general strategies for market leadership are: first, develop the whole market. in this case, the market leader tries to increase the a market leader is a company with the largest market share in an industry that can often use its dominance to affect the competitive landscape and direction, competitive strategies for market leaders slideshare, characteristics of a market leader, market share leadership pricing, protecting market share. what are the 3 market leader strategies? what are the 4 types of marketing strategies? what are marketing strategies for leader and challengers? there are 3 main market leader strategies which can be used by market leaders to defend their market share and to ensure they do not lose to competition.expand total market. new users. new uses. more usage.protect | defend its current market share. position defense. flank defense. increase its market share.
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