Marketing Strategies for Challenger Firms - YouTube Video Lectures
Firms that are not market leaders in their industry or product category are trailing firms. One or two of them could be close competitors to the market leader and they can be termed as runner-up firms. These firms can take the role of challengers when they make aggressive efforts to further their market share or they can be termed followers when they keep quiet and maintain their market share.
There are successful trailing firms which challenged and became industry No. 1 firms. Canon is one such example in copiers. Toyota is now the world No. 1 company in automobiles; it displaced General Motors.
The challenger companies have to attack the leader, other comparable firms, and smaller firms in their bid to gain market share.
Attack has a greater probability of success when there is customer dissatisfaction with the current leader. There is a gap in the market which the leader is not serving. Comparable firms can be successfully attacked when they are underfinanced and are charging excessive prices and customers are showing dissatisfaction. Similarly, underfinanced smaller firms can be attacked to gain market share.
With each attack, the challenger may hope to gain a reasonable increase in its market share.
Challenger Marketing: Succeeding In Today's B2B Battleground
Published on 21 May 2014
Brent Adamson, co-author of "The Challenger Sale," kicked off the 2014 Content2Conversion Conference for B2B marketers by introducing the concept of challenger marketing. In this session, Adamson challenged marketers to rethink content marketing and lead generation by leading with commercial insight.
More on the C2C Conference:
CEB - What the Best Companies Do
From challenger brand to No. 1
Published on 25 Mar 2014
The Big Rethink 2014 US - The 360° CMO
March 13th 2014 / New York, NY
What does it take to challenge the dominant brand in your category? In addition to a great product, you need a marketing plan with the courage to challenge the status quo. In this session, a CMO and his agency partner discussed what it takes for a brand to spark growth and innovation within a category, how to reshape the category and become No. 1, and how to hold onto the challenger brand mentality to maintain its leadership and no. 1 position.
Chief marketing and brand officer, Chobani
Founder and creative chairman, Droga5
Competitive Strategies for Followers and Nichers http://nraomtr.blogspot.com/2011/12/competitive-strategies-for-followers.html