Effective Strategies for Runner-up Firms
Effective Strategies for Runner-up Firms. Suggested Strategies that should be beneficial specially for Runner-up Firms
01. Offensive strategies to build market share
Rarely can a runner-up improve its competitive position by imitating the strategy of leading firms. A ordinal rule into this offensive strategy is to avoid attacking a leader head-on.Offensive strategies have many forms.
Some vital forms are indicating here :
> Frontal attack,
> Flanking attack,
> Guerrilla attack,
> Involve into Strategic Encirclement,
> Involve into Predatory Strategy,
> Engage in Judo strategy.
02. Growth–via-Acquisition Strategy
Most frequently used is merging with or acquiring to form an enterprise that has greater strength and a large share in market.
03. Vacant-Niche Strategy
Focus on leader have by passed or neglected.
04. Specialist Strategy
The aim is to train the company resource strength and capabilities in a specific area.
05. Superior Product Strategy
The approach here is to superior product quality or unique attributes.
06. Distinctive Image Strategy
To Make stand out from the competitors Reputation for charging lowest prices, superior customer’s services, designing unique products.
07. Content Follower Strategy
Steal customers away from the leaders Prefer defense to offense simply maintain market position. What strategic change the leaders initiating and what we need to do to maintain our present position.