A company’s marketing strategy can be customer-oriented (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.
1.A market leader in pharmaceuticals
2.A market follower in a mature market
3.A market nicher (i.e., company focused on a small segment) in interior decoration of luxury homes
4.A a market challenger in a mature market with low margins and significant economies of scale effect