9. Dealing with Competition. Marketing Management, 13 th ed- A South Asian Perspective. Chapter Questions. How do marketers identify primary competitors? How should we analyze competitors’ strategies, objectives, strengths, and weaknesses?
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Customers’ ratings of competition on Key Success Factors: An example
Share of market
(The competitor’s share of the target market)
Share of mind
(The first company that comes to mind)
Share of heart
(The company from which you would prefer to buy)
Strong Vs Weak (Fewer Resources required)Close Vs Distant (Resemblance)Good Vs Bad
(Penetration/new market segmentation/geographical-expansion)
The market challengers’ strategic objective is to gain market share and to become the leader eventually
Types of Attack Strategies
Use a combination of several strategies to improve market share over time
e.g. Product innovation--Sony
“[A] firm should `stick to its niching’ but not necessarily to its niche. That is why multiple niching is preferable to single niching. By developing strength in two or more niches the company increases its chances for survival.”