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Chapter Questions. How do marketers identify primary competitors? How should we analyze competition? strategies, objectives, strengths, and weaknesses How can market leaders expand the total market and defend market share? How should market challengers attack market leaders?

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Chapter questions
Chapter Questions

  • How do marketers identify primary competitors?

  • How should we analyze competition?

    • strategies, objectives, strengths, and weaknesses

  • How can market leaders expand the total market and defend market share?

  • How should market challengers attack market leaders?

  • How can market followers compete effectively?


Economic view of competition
Economic View of Competition

Pure Monopoly

Oligopoly

Monopolistic Competition

Pure Competition


Competition isn t always bad
Competition isn’t always bad!

Bill Cade’s crickets

Furniture industry

Satellite radio

WHEN?




Analyzing competitors
Analyzing Competitors

Share of market

Share of mind

Share of heart


Hypothetical market structure
Hypothetical Market Structure

10%

Market

Nichers

20%

Market

Follower

30%

Market

Challenger

40%

Market

Leader


Two ways to expand
Two ways to expand:

New customers

More usage



Question
Question

Why do profits often decrease

as market share expands?


Competitive players
Competitive Players

Market

Challengers

Market

Nichers

Market

Followers




Fast food study
Fast Food Study

  • McDonald’s is the market leader

  • The “lighting rod” of criticism

  • 1986 Hardee’s tries lower fat, no one follows.

  • April 1991 McDonald’s introduces McLean

  • July KFC and Arbys’ low fat products

  • 2000 Subway becomes niche player (sandwiches)


Balancing orientations
Balancing Orientations

Competitor-

Centered

Customer-

Centered


Group discussion
Group Discussion

How do you attack a Category Leader?

Take a position:

  • The best way to challenge a leader is to

    attack its strengths.

    2. The best way to attack a leader is

    to adopt a flanking strategy.


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