Strategies for runner-up firms
What are the strategies for runner-up firms?
Expert
Strategies for Runner-Up Firms are as follows:
1. Runner-up or second-tier firms have minor market shares than first-tier industry leaders.
2. Runner-up firms can be:
i. Market challengers– employing offensive strategies to make a powerful market position and gain market share.
ii. Focusers– seeking to enhance their lot by concentrating their attention on serving a limited part of the market.
iii. Perennial runner-ups– lacking the competitive strengths and resources to do extra than continue in trailing positions and/or content to pursue the trendsetting moves of the market leaders.
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