Posted in Marketing and Strategy Terms, Total Reads: 885
The various strategies adopted by the business firms to sustain in this competitive environment often depends upon the ability to take risk, innovation of the product, speed by which decisions are made and implemented and leveraging the financials etc. based on above parameters there are four main types of aggressive strategies defined. Analyzers belong to one such category.it is a moderate aggressive strategy.
The firm has less risk taking ability. A firm that follows analyzer strategy tries to maintain its market share as well as tries to innovate.
The innovation is less compared to a firm following a prospector strategy. Most of the firms fall into this category because they all want to maintain their customer base as well as develop new product markets also. They however do not get into creating totally new products or markets. Incremental modifications in the product and incremental expansion of the existing markets are witnessed.
For Example: An FMCG firm like P&G has a good market in detergents, oral healthcare etc. it needs to maintain this share so as to have financial strength but at the same time it needs to explore the options to meet new products.