Effective Strategies for Runner-up Firms.
Suggested Strategies that should be beneficial especially for Runner-up Firms
Effective Strategies for Runner-up Firms
Rarely can a runner-up improve its competitive position by imitating the strategy of leading firms? An 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 :
Involve into Strategic Encirclement,
Involve in Predatory Strategy,
Engage in the Judo strategy.
Most frequently used is merging with or acquiring to form an enterprise that has greater strength and a large share in the market.
Focus on leader has bypassed or neglected.
The aim is to train the company’s resource strength and capabilities in a specific area.
Superior Product Strategy.
The approach here is to superior product quality or unique attributes.
Distinctive Image Strategy.
To Make stand out from the competitor’s Reputation for charging lowest prices, superior customer services, designing unique products.
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.