Competitive strategy refers the market strategy or the way or the procedure to run a business or organisation or to compete in the market without getting so much trouble:
1.Expanding the Total Market:
- New customers: Unaware or Aware
- More usage: Amount and Frequency of consumption
2.Defending Market Share: Position Defence: Building Superior Brand Value
- Flank Defence: Competitor’s price cut.
- Increase price and put extra on advertising.
- Pre-emptive defence: Attack before enemy starts pre-announcements.
- Counter Offensive Strategy: Hero Pleasure: Big launch + Low price of sensitive product and more revenue from other products.
- Mobile Defence: Diversification
- Contraction Defence: Planned Contraction of under-performer.
3. Expanding Market Share
4. Frontal Attack: Value to customer by price cut
5. Flank Attack Enemy’s weak spots
- identify and attack
- Geographical Expansion
6. Encirclement Attack Wide range of Gadgets
7. By pass Attack Diversify unrelated product
8. Guerrilla Attack Pepsi v Coke: Aquafina and Tropicana
9. Counterfeiter: Duplicate sell in Black Market
10. Cloner: New Packaging with slight variation
11.Imitator: Copy the concept
12.Adapter: Copy and improve
Need any help?
If you require any business related help or other guidance than read our business blog on www.cutevamp.com
Or contact us on: +919587406557 (India)