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.