Businesses and companies use various strategies to attack their competitors, where the attacking company actively targets the defender company. It often happens when a company enters the market. Today, we’ll discuss the frontal attack strategy; its types, pros, and cons, and examples. What is Frontal Attack Strategy? A frontal attack strategy is when a company directly targets the market leader/s. …
When a company’s performance, market conditions, or country’s economy are in the declining phase, then businesses employ various strategies to minimize its impact. Turnaround strategy is among one of them. Today, we’ll discuss what is turnaround strategy, its types, and various stages with real-life examples. What is Turnaround Strategy? A turnaround strategy is a form of retrenchment strategy when a …
Goal-setting is one thing but making a plan or a layout to achieve those goals is another thing. In fact, ambitions without a strategy are just like music without rhythm. The same is the case with business; you simply cannot “win” without a solid plan-of-action- a business-level strategy. Yes, you may have heard this term before, but today, we are …
Do you know that in the United States, only 40% of adults aging 65 or more use social media? That means the other 60 percent have no or minimal access to digital or social media marketing campaigns. In fact, that’s not it; here are some other very interesting statistics about the percentage of people from different age groups in the …
A person hitting the gym for maintaining his/her fitness levels will have different ambitions than someone who is competing for Mr. Olympia. Both of them use the same resources and tools but have different objectives. Similarly, different types of businesses have different preferences or objectives. That is why businesses use different business strategies to accomplish their objectives or goals. Business …
Customer retention and customer acquisition are surely one of the core objectives of every business. Whether you are a wholesaler, distributor, or retailer, you would love your customer base to increase on a regular basis. But the question is, how can you drive more sales with the help of your marketing strategies, especially if you are a retailer? Well, this …
Every business market has a market leader and some market followers, and they all play a specific role and follow various strategies. Today, we’ll discuss market follower strategies, their meaning, types, and pros and cons with examples in detail. What is Market Follower Strategy? A market follower is a business or a company that follows the footstep of the market …
It’s very difficult to achieve a leadership position in the market. The competitor businesses would challenge your company’s strengths, or they try to take advantage of your weaknesses. If new and current businesses are following the latest trends, then it would weaken your leadership position in the market. Businesses and companies use various strategies to maintain their position in the …
Wherever there is a market, there will be competition. In fact, it won’t be wrong to say that in the business world, the term “market” itself is synonymous with competition. If a new business is entering a market, there will be competitors up front who have already captured the market share. So, what does a new business do? Should it …
We all love bakery’s flour-based food products like pastries, pies, cookies, cakes, and so many other delicious items. Just thinking about bakery products makes your mouth watery. However, other industry businesses also serve bakery items like coffee shops, tea houses, cafes, and small shops. Bakery shops also offer and produce many confectionary items. According to an estimate, there are roundabout …
