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MKTG 4381 Competitive Dynamics

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Mario V. Gonzalez-Fuentes

on 30 October 2015

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Transcript of MKTG 4381 Competitive Dynamics

Competitive Strategies
Marketing Management
Understanding the Competitive Landscape
Strategies for Market Leaders
Strategies for Market Challengers, Followers and Nichers
Product Life-Cycle Marketing Strategies
Identifying Competitors
Direct Competitor
A direct competitor is an organization offering nearly identical products or services to the same market
Indirect Competitor
A direct competitor is an organization offering similar, but not identical products or services to the same market
Principal Competitor Identification
Time Horizon
Product/Service Life Cycle
Rate of Technological Change
Market Share
Messaging
Competitive Advantage
Strengths & Weaknesses
Marketing Mix
Degree of Dominance in Market
Communication to Target Markets
Execution of Distinctive Capabilities
People, Culture, Reputation, Customers
Product, Pricing, Distribution, Promotion
Competitive Comparison Framework
Competitor Criteria
Players in the competition arena
Market leader
Market challenger
Market follower
Market nichers
Market distribution
Expanding Total Market Demand
Look for new customers

More usage from existing customers
Market penetration strategy

New-market segment Strategy

Geographical-expansion strategy
Boost the amount

Increase frequency
Protecting Market Share
Proactive Marketing

Defensive Marketing
Skills:

Responsive anticipation

Creative anticipation
Increasing Market Share
Mergers & Acquisitions
Aspects to be considered:
Provoking antitrust action
Economic cost
The danger of pursuing the wrong marketing activities
The effect of increased market share on actual and perceived quality
Market-Challenger Strategies
Attack!
Defining the strategic objective and opponent(s)

Choosing a general attack strategy

Choosing a specific attack strategy
Attack the market leader
Attack firms its own size that are not doing the job and are underfinanced
Attack small local and regional firms
Frontal Attack
Flank Attack
Encirclement Attack
Bypass Attack
Guerrilla Attacks
Market-Follower Strategies
Counterfeiter (Mostly Illegal)
Cloner
Imitator
Adapter
Market-Nicher Strategies
End-User Specialist
Vertical-Level Specialist
Customer-Size Specialist
Specific-Customer Specialist
Geographic Specialist
Product-Line Specialist
Job-Shop Specialist
Quality-Price Specialist
Service-Specialist
Channel Specialist
Roles
Types of Product Life-cycles
Sales and Profit Life Cycles
Growth-Slump-Maturity
Scalloped
Cycle-Recycle
Style, Fashion, and Fad Life Cycles
Strategies for Introduction Stage
Strategies for Growth Stage
Add new models and flanker products (of different sizes, flavors, and so forth) to protect the main product
Offer extended service and warranties
Enter new market segments
Increase its distribution coverage and enters new distribution channels
Shift from awareness and trial communications to preference and loyalty communications
Strategies for Maturity Stage
Market Modification
Product Modification
Marketing Program Modification
Strategies for Decline Stage
Divesting: Sell the product to other firm(s)

Harvesting: Reduce expenditure, Cut Price, Phase out weak products or unprofitable outlets
Expand sales volume (# of Users x Usage Rate):
Convert Nonusers, Attract competitor's customers
Use product in new ways, more frequently or in large quantities
Quality improvement
Feature improvement
Style improvement
Change Prices, Promotions and Advertising:
Price to match or outperform competitirs
Stress brand differences and benefits
Encourage brand switching
Full transcript