POSITIONS OF THE MARKET

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What are the 4 positions of the market?
Leader, challenger, follower, niche
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What is a market leader?
Has the largest share and leads price changes
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Give 3 aims of a market leader
Maintain share, increase share, expand
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What is a market challenger?
Holds a large share, tries to challenge leader
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Give 3 aims of a market challenger
Attack the smaller business, direct attack - price cutting, indirect attack - address weaknesses of leader
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What is a market follower?
Doesn't want to attack the leader, a business with lower shares
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Give 2 aims of a market follower
Copy the leader, innovative business
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What is a market niche?
specific target market, small segment, unlikely to challenge the leader
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Other cards in this set

Card 2

Front

What is a market leader?

Back

Has the largest share and leads price changes

Card 3

Front

Give 3 aims of a market leader

Back

Preview of the front of card 3

Card 4

Front

What is a market challenger?

Back

Preview of the front of card 4

Card 5

Front

Give 3 aims of a market challenger

Back

Preview of the front of card 5
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