While the strategic planning process of leaders is well understood, firms in lower market share ranks tend to have a planning process of a follower. Instead of trying to influence their environment, they normally copy the strategies of the industry leader or even serve niches neglected by the leader. Outlines, through numerous examples, the changes followers can make in their competitive profiles to become alternative leaders. The smaller firms may thrive serving a limited demand which would normally be unattractive to the leading firms; the larger company could do well by concentrating on products for market niches that are neglected by the industry leaders. Discusses several implications for small as well as large firms which wish to be followers in their industry. Also examines approaches to attaining long‐term economic viability such as forge linkages, protective factors, geographical parameters, personnel policies, product offerings, customer selection, purchasing, production and marketing.
Marketing Intelligence & Planning – Emerald Publishing
Published: Jun 1, 1997
Keywords: Industry; Market share; Niche marketing; Planning
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