MKTG 3101 Lecture Notes - Lecture 6: Makita, Operational Excellence, Sustainable Energy
Document Summary
Kodak was focusing on its nearest competitor fujifilm and they didn"t realize the market was changing. People were not printing pictures anymore and smartphones took over (no one wanted digital cameras) Failed to think of competition broadly or predict competitor moves. Amazon obsesses over their customers and are leaders in the market. They offer things customers want such as same-day shipping which other companies can"t compete with. Redefine your competition as your customers" obstacles. Market challenger: runner-up firm, fighting to increase. Market follower: runner-up firm, wants to hold share without rocking the boat . Market nicher: serves small segments, often overlooked. Example of market leader defending position: black and decker. Was leading power tool company and started getting into buying other companies and making irons and food processing, then makita became a challenger and people didn"t see black and decker as heavy duty power tools anyone.
