Four Specific Marketing Strategies
Employing the correct marketing strategy can be critical to success. A good deal of what will constitute the best strategy is contingent upon the disposition of the business owner and the makeup of the geographic market serviced. This writing explores 4 different marketing strategies but it should be noted that while a company may employ a particular method to a significant degree any business can assume the role of leader, challenger, follower or niche marketer at the service offering level. The most important factor is that any given strategy must be employed with care and diligence. Following are marketing strategies that can be employed in automotive repair:
- Market Leader – Attaining a leadership position in the market can stimulate business growth and success. The first prerequisite to reaching a leadership position is a clear definition of the market …Read More >>
- Market Challenger – A market challenger has a smaller piece of its target market than the market leader but is in a position to compete and increase market share. The market leader may have more resources available and be in a stronger position to acquire and retain customers so the challenger must be judicious in choosing the best way to grow … Read More >>
- Market Follower – A market follower strategy is employed by companies that want to allow a market leader to bear the cost of developing a new product or service offering then introduce their own version. The follower can often provide the same offering at a lower cost as they don’t need to recoup the higher cost of introducing a new product into the marketplace … Read More >>
- Niche Marketing – A niche market refers to a group of people within a larger market that possess similar interests. In automotive repair a niche market can be defined in a number of ways such as demographically (age, gender, etc.), make of vehicle driven, business or consumer and more …Read More >>
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