Market Challenger Strategies
This article covers meaning & overview of Market Challenger Strategies from marketing perspective.
What is Market Challenger Strategies?
Market Challenger Strategies, are marketing strategies adopted by companies to counter competition whee the motive of target of attack is success.
Following are the strategies:
• Frontal Attack: In this strategy, attacker’s matches its opponent’s price, advertising methods, price and distribution. The one which has better and more resources wins the market.
Examples: Pepsi v/s Coke, P&G v/s HUL, Hero motor corp. v/s Bajaj, Maruti V/s Hyundai
• Flank Attack: Make strategies in such a way that focuses on the weak part of the opponents. Attackers find that weaknesses and attack on the same to acquire more market.
Examples: Titan v/s Timex, Apple v/s Micromax, Hp v/s Dell
• Encirclement Attack: Launching a new product in the market that is very similar to the opponents to capture the wide area of market. Or doing a grand offensive of opponents in many fronts via blitz.
Examples: Fashion Industry.
• Bypass Attack: Attackers attack where opponents are not looking and by finding a new market segment.
Example: Colgate V/s P&G, Honda V/c Hero motor corp
• Price Discount: As buyers are price sensitive and the opponent does not cut the price, then this strategy helps a lot.
Example: Surf Excel v/x Ariel, LG v/s Videocon, PUMA v/s Koutons
• Cheaper Goods Strategy: In this strategy, the attackers attack by lowering the price as much as he can by little bit compromising with the quality.
Example: Cloth Industry, Food Industry
• Prestige Goods Quality: In this strategy, attackers attack by increasing the quality as well as price of the product.
Hence, this concludes the definition of Market Challenger Strategies along with its overview.
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