Strategic approaches for the runner-up companies

Question

What are the strategic approaches for the runner-up companies?

Answer 1

Strategic approaches for the runner-up companies:

Runner-up companies can have significant strategic flexibility and can consider any of the seven approaches:

1. Offensive Strategies to Build Market Share

2. Growth-via-Acquisition Strategy

3. Vacant-Niche Strategy

4. Specialist Strategy

5. Superior Product Strategy

6. Distinctive Image Strategy and

7. Content Follower Strategy

Core Concept:

Hardly ever can a runner-up firm successfully dispute an industry leader along with a copycat strategy.