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The Marketer's Handbook: Reassessing Marketing Techniques for Modern Business by Laurie Young

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cmp03uf001COMPETITIVE STRATEGY

Application: Strategy and Planning, Revenue Success

The Concept

The ability, style, and will to compete are issues that marketers need to consider as they design their work. There are times when the actions of individual competitors are of immediate concern, such as during a proposal to a customer. More important, however, are the times when changes in the business or the market allow actions by other firms to threaten the health of the business. Competitive response then becomes a major strategic issue which needs to be addressed.

Companies in a range of markets can be complacent and engrossed in internal work. They can develop a tendency to focus more on the improvement and presentation of their own offers rather than any specific attack on vulnerable competitors. Experience suggests that, as mature markets tighten, marketers need to think more explicitly about their competitive strategy. They have to concentrate on how to attract business to them rather than letting it go to other firms. Even more importantly, they need to find processes whereby that competitive strategy, once developed, can be implemented throughout their organization.

For example, it may be that a firm which has been number two in its market decides that the time has come to challenge for leadership. This means taking the position of the established market leader in a deliberate and planned ...

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