Tuesday, December 05, 2006

Management Lite & Ezy 17 – Competitive Strategies for Market Followers and Nichers

Market Followers’ Strategies

  • Counterfeiter – The counterfeiter duplicates the leader’s product and package and sells it on the black market or through disreputable dealers.

  • Cloner – The cloner emulates the leader’s products, name, and packaging, with slight variations.

  • Imitator – The imitator copies some things from the leader but maintains differentiation in terms of packaging, advertising, pricing, or location.

  • Adapter – The adapter takes the leader’s products and adapts or improves them. The adapter may choose to sell to different markets, but often the adapter grows into the future challenger.

Market Nichers’ Strategies

The key idea to be successful in a niche market is specialization. For example, some firms sell extra large clothes or shoes to customers who are neglected by the majors.

Reference: Kotler & Keller, “Marketing Management”, 12th edition

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