A company’s marketing strategy can be customer- (i.e., strategy designed by examining primarily customer needs) or competitor-oriented (i.e., strategy based on competitors’ actions). In reality, companies do both. For the following scenarios, identify which strategies to emphasize and why.
A market leader in pharmaceuticals
A market follower in mature market
A market nicher (i.e., company focused on a small segment) in interior decoration of luxury homes
A market challenger in a mature market with low margins and significant economies of scale effect.