From Defensive To Offensive Strategies
Education Comments OffSuppose the firm providing hypnosis products starts losing its market share. The good reason behind this is the launch of a new free DVD product by the rival form. People find easy, the switching costs are low and users switch to the rival firm product. What should the existing firm do?
The free audio strategy is failing and is of no use any more. What it can do is, to conduct a competitive intelligence survey. This type of survey is only conducted in order to check what will be the new self-hypnosis products by the rival firm? The survey can be conducted via internet or by checking daily the rival company’s website. The new promotional plans will be announced on the website and it would be easier for the existing firm to make a cost benefit work. It would able to ensure its survival and see what is being offered by them could be changed to some thing new.
These are offensive strategies. These steps on way ahead of the defensive ones. Sometimes, the existing firms face intense competition among its own products of hypnotherapy. For example, Pantene and Head & Shoulders face internal competition between them. Strategies need to different for internal competition as compared to the external one. The external competition is more difficult to tackle. However, if the success of one product increases in the internal competition, the company would never be a loser. Since it is making profit from both the products.
Recent Comments