A company's marketing strategy can be customer-oriented (i.e., stragety designed by examining primary customer needs) or competitor-oriented (i.e., stragety based on competitors' actions). In reality, companies do both. For the following scenarios, identify which strategies to emphasize and why.
1. A market leader in pharmaceuticals.
2. A market follower in a mature market.
3. A market nicher (i.e., company focused on a small segment) in interior decoration of luxury homes.
4. A market challenger in a mature market with low margins and significant economies of scale effect.