MKT 702 Chapter Notes - Chapter 11: Market Saturation, Guppy, Market Power
Document Summary
Market leader has majority of market share. Market follower anyone that is competing behind market share of the leader. More usage increasing frequency of consumption, on the other hand: requires either: identifying additional opportunities to use the brand in the same basic way, identifying completely new and different ways to use the brand. Consumers may fall to replace a short-lived product when they should, because they overestimate how long it stays fresh. Increase frequency of consumption is to identify completely new and different applications. The front-runner should lead the industry in developing new products and customer services, distribution effectiveness, and cost cutting. Comprehensive solutions increase its competitive strength and value to customers. A responsive marketer finds a stated need and fills it. An anticipative marketer look ahead to the needs customer may have in the near future. A creative market discovers solutions customers did not ask for but to which they enthusiastically respond.
