Competitve approuch of Kotler has several ways to make it difficult for your competitor. For example, Kotler has developed different types of models for marketing. The questions below provide insight into whether you need the model for your research.
Do I need the model?
Kotler’s competitive approach requires you to choose a strategy for your product or service. Each strategy has its own view of the products you are going to sell.
Which variables do I need?
You need a competitive analysis for Competitive approach Kotler. This allows you to find out the position of the competition. In addition, you need your own product or service with your invented positioning.
How can I apply the model?
There are 4 strategies according to Competitive approach Kotler:
Market leader strategy
Increase total demand
- As a market leader, you are constantly looking for new users . You have approached the young adult market and now you are going to approach the adolescent market with your current product.
- You use new applications of another product on your product (product innovation)
- As a market leader you can increase demand . You give the user reasons to use your product more.
Increase market share position
- With the help of advertising you can improve your market share position. This can be both online and offline advertising according to Competitive approach Kotler.
Defend market share position
- You can enter into partnerships to improve your defense position .
- A flank defense means that you create multiple variants to secure your portfolio, so that your competitor cannot perform a flank attack on your product or service.
Market challenger strategy
With this strategy, the organization is not yet a market leader, but wants to become one in its market area.
- In a frontal attack , the market leader is attacked on its strongest points. The attack aims to capture market share according to Competitive approach Kotler.
- In a flank attack, the market leader is attacked in areas where it is less good. You try to capitalize on these markets and then conquer the market share.
- When surrounded, the market leader is surrounded on several fronts at the same time. This is done with different products or services around the core product of the competitor.
- In a guerrilla attack, try to gain market share as quickly as possible with the following examples:
- You carry out quick and short marketing campaigns.
- You launch a product at a significantly lower price than the competitor’s.
- Your product has more options and more options.
- You market different product variants.
- You improve the user-friendliness of deliveries to complaints handling.
Market follower strategy
- With a me-too strategy, you copy the competitor to respond to the trend or craze. You can think of the Hoverboard . The popularity is increasing and now other customers, such as toy stores, also want to sell these products in order to take advantage of the popularity of this device.
- You have found a niche when the competitor does not yet own this market. This is part of the market with high demand according to Competitive approach Kotler. When you have found a niche, you can segment your target group with the help of the sales funnel to increase the chance of success when purchasing.
What can I get from Competitive approach Kotler?
You apply Kotler’s competitive approach to your organization. For the company, it provides clarity which actions you can take to gain more market share with your selected segment.