Understand Marketing Strategies with the Help Of other Competitive Strategies Assignment Help
Competitive strategies are one of the crucial stages in economics and topics related to it are tough to understand as it demands a lot of researches and concentration which students fail to do. Thus, they need the help of Other competitive strategies homework help to finish their work on time.The strategies implemented in order to gain competitive advantages over its competitors in the industry are competitive strategies.
Types of other competitive strategies
- Cost leadership:
This is one of the easiest competitive strategies to copy and it helps large business to fight the challenger companies. By using this strategy the firm becomes the lowest cost producers in the industry and the factors essentially needed for implementation of leadership are high capacity utilisation, bargaining capacity and high technology. Large firms use this strategy to achieve the lowest possible price of the production and to lower the distribution cost. Organisations opting for this strategy mostly targets value-seeking customers with basic needs and penetration pricing.
- Cost focus:
Under this strategy the firm aims to lower the price of the goods and concentrates on specific market segment. This type of strategies helps the firm to earn popularity and also helps in consumer satisfaction. It targets the niche market segment with specialized product lines as a difference between cost leadership and price centered focus strategy.
- Differentiation leadership:
Under this the firm believes to maintain unique feature of its goods and services in the market creating a differentiating factor. In this the company tends to target the market to achieve the market leadership and also charge highest prices for the products. They targets quality and value seeking customers with premium offerings and strong brand equity
- Differentiation focus:
It is a differentiation strategy in which it focuses on distinguishing itself from the other competitors. It helps in meeting customer demand for purchasing competitors product.
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Market strategies should deal with some points:
- The primary market should be stable, growing or declining
- The product/goods should be highly homogenous or different
- Company must have high or low resources in compared to that of competitors
- There can be many or few competitors
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