how can market leaders expand the total market and defend market share?
TRANSCRIPT
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How can market leaders expand the total market and defend market share
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Brand, product, or firm that has the largest percentage of total sales revenue (the market share) of a market.
Market leader
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Expanding total market demand
BY ADDING NEW CUSTOMERS
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Market penetration strategy
1) those who might use it but do not
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New market segmentation strategy
2)Those who have never used it
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Geographical expansion strategy
3)Those who live elsewhere
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More usage
Through increasing the amount, level and frequency of consumption
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Amount through packaging and product redesign
Larger package sizes
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Increasing the level of consumption
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Frequency of consumption
Identifying additional opportunities to use the brand
Tying the product to holidays and festivals
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Identifying new ways to use the brand
Advertise ways to use product differently
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Defending market share
Developing new products and customer services, distribution effectiveness and cost cutting
Continuous innovation
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Proactive marketing
• Proactive firms are:• Ready to take risks and make mistakes
• Have a vision of the future and of investing on it
• Have the capabilities on innovate • Are flexible and nonbureaucratic• Have many managers who think proactively
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Defensive marketing•Occupying most desirable market space in consumer’s mind•Ex: tide, pampers
Position defence
•Protect weak fronts and support a possible counterattack
Flank defence
•Achieve broad market envelopment that signals competitors not to attack•Introduce a stream of products and announce them in advance to make competitiors shift focus elsewhere
Pre-emptive defence
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•Exercise of economic and political clout•Use revenue from profitable products to subsidize weaker products
Counteroffensive
defence
•Market broadening: Shifting focus to more generic needs•Market diversification: Entering unrelated industries
Mobile defence
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