Maketing Strategies

Strategies based on market dominance - In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are four types of market dominance strategies:

• Leader
• Challenger
• Follower
• Nicher

According to Shaw, Eric (2012). "Marketing Strategy: From the Origin of the Concept to the Development of a Conceptual Framework". Journal of Historical Research in Marketing., there is a framework for marketing strategies.

• Market introduction strategies

"At introduction, the marketing strategist has two principle strategies to choose from: penetration or niche" (47).

• Market growth strategies

"In the early growth stage, the marketing manager may choose from two additional strategic alternatives: segment expansion (Smith, Ansoff) or brand expansion (Borden, Ansoff, Kerin and Peterson, 1978)" (48).

• Market maturity strategies

"In maturity, sales growth slows, stabilizes and starts to decline. In early maturity, it is common to employ a maintenance strategy (BCG), where the firm maintains or holds a stable marketing mix" (48).

• Market decline strategies

At some point the decline in sales approaches and then begins to exceed costs. And not just accounting costs, there are hidden costs as well; as Kotler (1965, p. 109) observed: 'No financial accounting can adequately convey all the hidden costs.' At some point, with declining sales and rising costs, a harvesting strategy becomes unprofitable and a divesting strategy necessary" (49).