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Industry vs Corporation
Corporation
Consumer – Indian and NRI
Audiences
Consumer
Having
• A clear market definition;
• A good match between corporate strengths
and the needs of the market;
• And superior performance, relative to the
competition.
Importance of Strategic
Marketing
• Marketing plays a vital role in the strategic
management process of the firm.
• The experience of companies well versed in
strategic planning indicates that failure in
marketing can block the way to goals
established by strategic planning.
Characteristics of Strategic
Marketing
• Emphasis on Long-Term Implications.
– Strategic marketing is a commitment, not an act.
• Varying Roles for Different Products /Markets.
– Strategic marketing starts from the premise that different
products have varying roles in the company.
• Organizational Level.
– Strategic marketing is conducted primarily at the business
unit level in the organization.
Characteristics of Strategic
Marketing
• Corporate Inputs:
– Corporate Culture ~ refers to the style,
whims, traits, taboos, customs, and rituals
of top management.
– Corporate Publics ~ are the various
stakeholders with governments and society
constitute and organization’s stakeholders.
– Corporate Resources ~ include the human,
financial, physical, and technological
assets/experience of the company.
Characteristics of Strategic
Marketing
• Relationship to Finance.
– Strategic marketing decision making is closely
related to the finance function.
– Its very important of maintaining a close
relationship between marketing and finance,
and, with other functional areas of a business.
– In recent years, frameworks have been
developed that make it convenient to
simultaneously relate marketing to finance in
making strategic decisions.
Future of Strategic Marketing
• The battle for marketing share is intensifying
in many industries as a result of declining
growth rates.
• Deregulation in many industries is mandating
a move to strategic marketing.
• Many companies in hitherto non-marketing-
oriented industries are attempting to gain
market share through strategic marketing.
Future of Strategic Marketing
• Shifts in the channel structure of many
industries have posed new problems.
• More and more countries around the world are
developing the capacity to compete
aggressively in world markets.
• The fragmentation of markets - the result of
higher per capita incomes and more
sophisticated consumers.
Future of Strategic Marketing
• In planning an early entry in the marketplace,
strategic marketing achieves significance.
• To successfully develop corporate imagination,
companies need strategic marketing.
The Process of Strategic Marketing
Market Situation Analysis
Market Vision, Structure and
Analysis
• Markets are becoming increasingly complex and
interrelated, creating challenges for managers
in regard to understanding market structure and
identifying opportunities for growth.
– Consider the impact of digital technology on
• Computers
• Telecommunications
• Photography
• Office Equipment
• Entertainment : Film making
Market Vision
• The importance of forming a vision about the
future can be understood with the help of the
following example
– Eastman Kodak : Conventional Film material
manufacturer
• Electronic imaging vs conventional film
• Compete aggressively in the conventional
film market Fuji
• New arena positions Kodak against Sony,
HP, Sanyo, Olympus – electronic imaging
Markets and Strategies
• Market knowledge is essential in guiding
businesses and market strategies.
• How do markets impact strategy ?
• What is the concept of value migration and
how does it effect market opportunities ?
• What is a shared vision about how the market
is expected to change in the future?
Strategies and Markets are
Interlinked
• Market changes often require altering business and marketing strategies
• Managers who do not understand their markets and how they will change
in the future may find the strategies they are using for competing
inadequate as buyers needs and wants change and alternative products
are available in the market place.
• Forces that precipitate change
– Deregulation – MNC’s, imports etc.,
– Excess Global capacity – Polymer products from China
– Global competition - Nike
– M&A’s – Steel Industry
– Changing customer expectations – Convergence of technology
– Technological discontinuities - Photography
– Disintermediation – Organised Retail
– Demographic and Changing Life styles – Indian Middle class
Examples
• EBI : Encyclopedia Britannia – 200 old publishing
company
• In 1990 the CD ROM technology impacted the
traditional encyclopedia market and EBI did not
respond to this challenge
• By 1994 - 16 million households had CD drives in US
homes : Encarta, Wikipedia
• EBI’s sales dropped and slaes force declined from 2300
to 1100
• CD ROMS priced at $100-400 while EBI at $ 1500
• In 1996 it eliminated its sales force and EBI was sold by
Scottish publishing house to Swiss billionaire Jacqui
Safra
• Where do you see the future of the print business going
20 years from now ?
Value Migration
• Value Migration is the process of customers
shifting their purchases away from products
generated by outmoded business designs to new
ones that offer superior value.
– Examples : Migration from Typewrites to Word
processing to computers
– Official memos and mail from conventional
print to electronic mailing via internet and
email
• What will be the impact of environment &
infrastructure on the auto industry ?
Shared Vision about the
Market
• Organizations ability to develop a vision about the future
markets that they wish to be in and directions of change.
• Team work rather than an individual : Arcelor Mittal
• To develop a future vision one must
– Identify and analyse the forces of change that are
expected to transform industry boundaries and create
new competitive space eg : Nokia Health
– Form a vision about the future eg : Stress and Mortality
and Health consciousness
Mapping Product Markets
Mapping the Product Market
Market Forecasts
A B A
Frost free Double Door PUF, Freshness
Guidelines for Definition
• In mapping product markets it is helpful to
determine
– The basis for identifying buyers in the
product market (geographical area, buyer
characteristics such as age etc.,)
– The market size and characteristics
– The brands/product categories that are
competing for needs and wants of the buyer
Forming Product Markets
• The factors that influence product market
boundaries must be determined in addition to the
rate of change in market composition over time
and the extent of market complexity
KFC vs Mc Donalds
Extent of Market Complexity
• Three characteristics of markets capture a large
proportion of the variation of a market’s complexity
– Customer function considers what the product or
service does : Example : Desktop Computer at
home DISCUSS
– Different technologies may satisfy the use situation
of the customer : Example : Sending a letter
DISCUSS
– Customer segment recognizes the diversity of the
needs of customers for a particular product
Example : Automobiles DISCUSS
Illustrative Product Market
Structure
Personal Care
Generic Product Class
Products
Powder
Creams
Bottled
Water
Diet
Lemon Limes
Reg.
Ice Wine Colas
Cream Diet Lemon
Diet Pepsi Limes
Fruit
Flavoured Coke
Fast Cola
Competition Product Product
Food Diet
Diet Cola Form Category Generic
Competition Rite
Product Budget
Soft Drinks Competition
Competition
Beverages
Competition
Food & Ent
Coffee Tea
Juices
Video
Film Candy
Popcorn
Industry Analysis
• Competitor analysis is conducted from the point of view
of the firm. However, with the example shown earlier, it
is necessary to now look at competition from the point
of view of competing industries and thus a need for an
industry analysis
– Profile of the industry
– Analysis of the value chain
• Horizontal analysis – similar types of firms
• Vertical Analysis - Different industries reaching
the same end user
Industry Analysis
• The industry analysis includes
– Industry characteristics and trends such as
sales, number of firms, growth rates
– Operating practices of firms in the industry,
including product mix, services provided,
barriers to entry and geographical scope
– Industry Size and Growth
– Marketing Practies
– Industry changes that are anitipated
– Strengths and Weaknesses
– Strategic Alliances amongst competitors
Industry Analysis
• Analysis of the Value Added Chain : Supplier and Distribution
channels is important to understanding and servicing product
markets. Example : ITC vs Coca Cola
• Competitive Forces : Need to recognize the five competitive
forces that affect industry performance
– Rivalry among existing firms Eg. Coke vs Pepsi
– Threat of New Entrants Eg. Kodak vs HP/Sony
– Threat of Substitute Products Eg. Ency. Brit vs CD Rom
– Bargaining Power of Suppliers Eg. Commercial Airlines
– Bargaining Power of Buyers Eg. Walmart with suppliers
Key Competitor Analysis
• Competitor analysis is conducted for firms that
compete directly with each other. Eg. Nike vs
Reebok, Unilever vs P&G
• The aspects of competitor analysis that is
important are
– Preparation of descriptive profile for each
competitor
– Evaluating the competitors strengths and
weaknesses
Describing the Competitor
• A key competitor is any organization going after
the same target market as the firm conducting
the analysis. Jet, Kingfisher and Air India are key
competitors on many Indian routes and certain
international routes.
• Key competitors are often brands that compete
in the same product market or in segments
within the market. Surf Excel and Ariel
• Different product types that satisfy the same
need or want may also actively compete with
each other. Sony Walkman and Apple i-pod
Information needed to Describe
Key Competitors
• Business Scope and objectives
• Management experience, capabilities and weaknesses
• Market position and trends
• Market target and customer base
• Marketing programme and positioning strategy
• Financial, technical and operating capabilities
• Key competitive advantage
– Sources : Annual Reports, Industry reports, Articles,
Interviews, etc.,
Evaluating the Competitor
Evaluation considers the strengths and weaknesses of each competitor
in the areas shown below :
Scope of
Market
Coverage
Market Share
Distinctive Past
Capabilities Performance
Customers
Value
Proposition
Perceptual Maps
Perceptual Maps are useful in analyzing the competitive positioning
of competing brands. Analgesics brand in the US
Gentleness
Tylenol o
o Extra Strength Tylenol
Area of
Aspirin Free Excedrin o
Vulnerability
Bufferin o
Efficacy
Bayer o Advil o
Anacin o Nuprin o
Ecotrin o
Industry Structure
Number of Sellers, Product
Differentiation, Entry and mobility
barriers, Exit and shrinkage barriers,
Cost Str, Global reach, Vertical
Integration
Conduct
Pricing Behaviour, Product Strategy and
Advertising, Research and Innovation,
Plant Investment, Legal Tactics
Performance
Production and efficiency,
Progress, Full Employment,
Equity
Number of Sellers and Degree of
Product Differentiation : 5 Industry
Structure Types
One Seller Few Sellers Many Sellers
Smoker’s
Topol Topol
Toothpaste
No Product Customer
Orientation Orientation
Competitor Market
Yes
Orientation Orientation
Customer Centred
Designing Competitive
Strategies
Part 2
Classification of Roles in Target
Markets
Market LeaderExpand the Market New Users, More Usage, New Use
• Eg : Colgate Toothpaste
• Eg : Khadim’s Footwear
Defending Market Share
• While trying to expand the total market size,
the dominant market leader must also protect
its own turf and current share.
• Coca Cola vs Pepsi, Gillete vs Bic, Hertz vs
Avis, Mc Donalds vs Burger King, GM vs
Ford/Toyota, Kodak vs Fuji
• Sometimes the competitor is domestic and
sometimes foreign
• ‘The best defense of good offense’ – Art of War
by Sun Tsu Chinese Military Strategist
• Eg : Johnson and Johnson – cardiac stent from
90% share dropped to 8% - why ?
The 6 Defense (Leader)
Strategies
(2)
Flank
(3) Preemptive
(1)
(6)
ATTACKER Position
Contraction
(4)
DEFENDER
Counteroffensiv
e
(5)
Mobile
The 6 Defense Strategies (Position
& Flank)
• Position Defense : Building superior brand power,
making the brand almost impregnable : Eg :Heinz
(50%) vs Hunt (17%) Ketchup market in the US
• Flank Defense : Instead of building fortifications around
its product, it should erect outposts to protect a weak
front.: Eg. Smirnoff Vodka (23%) vs Wolfschmidt who
lowered $1 per bottle, What was Smirnoff’s strategy ?
Goodyear vs Michelin/Bridgestone – product innovation
Extended Mobility tyre, Aquatred Tyre and Dunlop
Acquisition
The 6 Defense Strategies (Pre
emptive)
• Pre emptive Defense : A more aggressive
maneuver is to attack before the enemy starts
its offensive. Can be done in the following way
– Guerrilla Attack : attacking different
competitors in different markets and keep
everyone off balance.
– Grand Market Envelopment : Seiko has done
with 2300 watch models available worldwide
– Sustained Price Attacks
– Sending out Market Signals : Eg : Chrysler
Minivan price vs lower price minivan
The 6 Defense Strategies (Counter
Offensive)
• Counter Offensive Defense : When attacked,
most market leaders will respond with a
counter attack. It can be frontally (head on),
hit competitors flanks or launch a pincer
movement.
• Eg : Northwest Airline Minneapolis – Atlanta :
most profitable, smaller airline cut fares, NW
cut fares on Minneapolis-Chicago route hurting
the smaller airline so that they cam back to
normal pricing
The 6 Defense Strategies (Mobile
Defense)
• Mobile Defense : The leader stretches its
domain over new territories that can serve as
future centres for defense and offense. It
spreads through market broadening and
market diversification.
– Market Broadening : Focus on R&D and
product based on the technology that
addresses the need : Refrigerators not just
cooling but bio fresh, etc.
– Market Diversification : Into unrelated
industries is another alternative : Eg : ITC
Limited
The 6 Defense Strategies
(Contraction)
• Contraction Defense : Large companies
sometime recognize that they can no longer
defend all of their territory. The best course of
action then appears to be planned contraction
(also known as strategic withdrawal). Planned
contraction means giving up weaker territories
and reassigning resources to stronger
territories.
• Eg : HUL moved out of Dalda, Hindustan
Motors exited Contessa etc.,
Increasing Market Share
• Market leaders can improve their profitability by
increasing their market share.
• A study by Strategic Planning Institute USA called
PIMS (Profit Impact of Market Strategy) found that a
company’s profitability, measured by pre tax return
on investment rises with its relative market share of
the markets served. It showed that companies with a
40% market share earned an average 30% ROI.
• Eg : GE strategy to exit out of businesses if they were
not No1 in market share. Divested it’s A/C and
computer businesses
• Profitability depends on the strategy to gain Market
Share and not an Increase in Market Share alone
Market Challenger Strategies
Who is a Market Challenger ?
• Companies that occupy second, third and lower ranks
in an industry are often called runner up or trailing
companies.
• 2nd run companies/brands such as Pepsi, Ford, Avis etc.,
are quite large in themselves. They can either attack
the leader aggressively to garner higher market share
or they can sit back and not ‘rock the boat’ (market
followers)
• Many challengers have overtaken the leaders
– Eg : Toyota over General Motors
– British Airways (then BOAC) over Pan Am (no longer
exists)
Market Challengers
• Competitive Rivalry and price cutting are most
intense in industries with high fixed costs, high
inventory costs and stagnant primary demand.
Eg : Steel, Auto, Paper, Chemicals etc.,
• The Challenger must decided its strategic
objective and whom does it wish to attack
– It can attack the market leader : High risk
but high potential payoff : Eg : Photocopying
Industry Xerox from 3M and then Canon
from Xerox
– It can attack firms of its own size and are
underfinanced :
– It can attack small local/regional firms
The 5 Attack (Challenger)
Strategies
4) Bypass Attack
2) Flank Attack
5) Guerrilla Attack
The 5 Attack Strategies (Frontal)
Time
Product Life Cycle
Fundamentals
Sales
Effects of Extension
Strategies
Time
Generic Industry
Environments
Types of Industry
Environment
• Fragmented
• Emerging
• Declining
• Mature
• Global
Challenges for Fragmented
Industries
What is a Fragmented
Industry?
• Is an industry where no particular firm or organization
has any significant market share and therefore
cannot strongly influence the industry outcome.
• No single precise quantitative definition of a
fragmented industry – but an industry that does not
have any significant leader
– Canned fruits
– Toilet and Tissue paper
– Machine Tools
– Costume Jewellery
What makes an Industry
Fragmented
• Low Overall Entry Barriers (not the most important one)
• Absence of Economies of Scale or Experience Curve
• High Transportation Costs
• Erratic Sales Fluctuations
• No Advantage of Size in Dealing with Buyers/Suppliers
• Diverse Market Needs (Uniforms for Local State/City Police)
• No Exit Barriers
• Local Regulation (Liquor Retailing : Goan Wine in Kolkata)
• Newness (Solar cookers)
How to overcome
Fragmentation?
• Create economies of Scale : eg : Kid’s Apparel
Market
• Standardize diverse Market Needs : eg :
Modular Kitchens
• Make Acquisitions for critical Mass : Steel
• Recognize Industry Trends early if newness
was the cause : Dot Coms Amazon.com
How do your cope with
Fragmentation?
• Tightly Managed Decentralisation
• Formula Facilities (Common Warehousing)
• Increased Value Added
• Specialization by Product Type or Product Segment
(Furniture)
• Specialization by Customer Type
• Specialization by Type of Order (Small Order/Custom
Order)
• Focussed Geographic Area
• Bare Bones/No Frills (Low Overhead Costs – Travel
Trade)
Potential Strategic Traps
• Seeking Dominance
• Lack of Strategic Discipline
• Overcentralization
• Assumption that Competitors have the Same
Overhead and Objectives
• Overreactions to New Products
Formulating Strategy for
Fragmented Industries
• Step One : What is the structure of the industry
and the positions of competitors?
• Step Two : Why is the industry fragmented?
• Step Three : Can fragmentation be overcome?
How?
• Step Four : Is overcoming fragmentation profitable?
Where should the firm be positioned to do so?
• Step Five : If fragmentation is inevitable, what is
the best alternative for coping with it?
Challenges for Emerging
Industries
What is an Emerging
Industry?
• Emerging industries are newly formed or re-formed
industries that have been created by technological
innovations, shifts in relative cost relationships,
emergence of new consumer needs or other
economic or sociological changes that elevate a
product or service to the level of a potentially
viable business opportunity.
• Solar Heating
• Alternative Fuels
• Internet based services
• Fibre Optics
• Packaged Drinking Water
Common Structural
Characteristics
• Technological Uncertainty
• Strategic Uncertainty
• High Initial Costs Embryonic Companies
(Infosys at the time of launch)
• First Time Buyers
• Short Term Horizon
• Subsidy
Problems Constraining Emerging
Industries
• Inability to obtain Raw Material
• Absence of Infrastructure
• Absence of Product Standardization’
• Perceived likelihood of Obsolescence
• Customers Confusion
• Erratic Product Quality
• High costs
• Image and Credibility with Financial Community
Strategic Choices
• Shaping Industry Structure
• Changing Role of Suppliers and Channels
• Shifting Mobility barriers
• Timing Entry
• Coping with Competitors
• Forecasting
• Which emerging Industry to enter??
Challenges for Declining
Industries
What is a Declining Industry?
• Declining Industries can be described as those which
have experienced an absolute decline in unit sales
over a sustained period. Here the end game
strategies must be developed.
– Postal Services in Developed Nations
– Hand Driven Ploughs in India
– Magnetic Cassette Tapes in Developed Nations
– Glass containers for Milk and Packaged Water
– Propeller Engines to Jet Engines
Causes of Decline
• Technological Advancement and Substitution
• Demographics
• Shift in needs
Strategic Choices
Has Strength Relative Lacks Strength Relative
To Competitors for To Competitors for
Remaining Pockets Remaining Pockets
Stage 2:
The Matching Stage
Stage 3:
The Decision Stage
Stage 1: The Input Stage
Competitive Profile
(CPE), Key Competitor Analysis,
Competitive Strategy Anlysis
Stage 2: The Matching Stage
Substitutes
(Threat of Substitute
Products/Services)
Threat of Entry
• Barriers to Entry
– Economies of Scale
– Product Differentiation (Strong Brands)
– Switching Costs (Buyers to buy the new product)
– Access to Distribution Channels
– Cost Disadvantage (Depreciated Assets)
– Government Policy (Airline to non metro routes)
Rivalry Among Existing Firms
• Numerous or equally balanced competitors
• Slow Industry Growth (Fight for market share)
• High Fixed Costs
• Lack of Differentiation (Coke vs Pepsi)
• Diverse Competitors
• High Exit Barriers
Others
• Threat from Substitute Products (Sugar and
Sugar Free)
• Bargaining power of Buyers (Organized Retail)
• Bargaining Power of Suppliers (Steel pre
liberalization)
SWOT Analysis
The SWOT Matrix
Focussed
Cost Focus Strategy
Differentiation
Strategy
Porter’s Generic Strategy
• Cost Leadership : is a low cost competitive start
that aims at the broad mass market and requires
aggressive construction of efficient scale facilities,
cost reduction, and cost minimization in areas like
R&D, Sales force and Advertising
• Because of its lower cost, the cost leader is able to
charge a lower price for its products than its
competitors and still make a satisfactory profit. Gives
it a good defense against rivals.
• Eg : Dell Computers, Tata Steel
Porter’s Generic Strategy
• Differentiation : is a a generic strategy that involves
the creation of a slightly or significantly differentiated
offering for which the company may charge a
premium.
• This specialty can be associated with design, brand
image, technology feature, dealer network or
customer service.
• Differentiation is a viable strategy for earning above
average returns in a specific business because the
resulting brand loyalty lowers the customers
sensitivity to price
• Eg : Rolex Watches
Porter’s Generic Strategy
• Cost Focus : is a low cost strategy that
focuses on a particular buyer group or
geographic market and attempts to service
only this niche to the exclusion of others.
• Eg : Nokia – lower end handsets for India
Porter’s Generic Strategy
• Focussed Differentiation : like cost focus,
concentrates on a particular buyer group,
product line segment or geographic market.
Segment targets buyers with unusual needs
which are different from others in the industry.
Not necessarily on price.
• Eg : Beauty products that have collagen or
aloe vera…L’Occitane, Professional Cameras
from Nikon, Pentax
Ansoff’s Matrix
Ansoff’s Concepts
• Market Penetration : selling more of the companies products in
the existing market which means increasing the level of
penetration in these segments. Eg : P&G and HUL
• Product Development : developing additional or new products to
serve existing market segments. Eg : Coke into Minute Maid
• Market Development : concentrates on the present product
range by searches for new segments. Eg Telecom Sector
• Diversification : marketing of new products into new markets.
Eg : ITC : Apparel, Personal care from Cigarettes
Ansoff’s Matrix
PRODUCT
Old New
Market Product
Old
Penetration Development
MARKET
Market
New
Diversification
Development
BCG Matrix
The Boston Consulting Group
Growth/Share Matrix
The Boston Consulting Group Matrix:
A means of analyzing the product portfolio and
informing decision making about possible
marketing strategies
Developed by the Boston Consulting Group – a
business strategy and marketing consultancy in
1968
Links growth rate, market share and cash flow
BCG Matrix
When a firm’s divisions compete in different
industries, a separate strategy often must be
developed for each business.
The BCG Matrix is designed to enhance a
multidivisional firm’s efforts to formulate
strategies.
Allows a multidivisional organization to
manage its portfolio of businesses
Focuses on relative market share position
and the industry growth rate.
BCG Matrix
MARKET GROWTH
High Low
Problem Child/
Dogs
Low
Question Marks
BCG Matrix
Cash Cows
– High market share
– Low growth markets – maturity stage of PLC
– Low cost support
– High cash revenue – positive cash flows
BCG Matrix
Dogs
– Products in a low growth market
– Have low or declining market share (decline
stage of PLC)
– Associated with negative cash flow
– May require large sums of money to support
BCG Matrix
Problem Child
- Products having a low market share in a high
growth market
- Need money spent to develop them
- May produce negative cash flow
- Potential for the future?
BCG Matrix
Implications
Dogs
– Are they worth persevering with?
– How much are they costing?
– Could they be revived in some way?
– How much would it cost to continue to support
such products?
– How much would it cost to remove from the
market?
BCG Matrix
Implications
Problem Children:
What are the chances of these products
securing a hold in the market?
How much will it cost to promote them to a
stronger position?
Is it worth it?
BCG Matrix
Implications
Stars
– Huge potential
– May have been expensive to develop
– Worth spending money to promote
– Consider the extent of their product life
cycle in decision making
BCG Matrix
Implications
Cash Cows
– Cheap to promote
– Generate large amounts of cash – use for further R&D?
– Costs of developing and promoting have largely gone
– Need to monitor their performance – the long term?
– At the maturity stage of the PLC?
BCG Matrix
Importance
(2)
(3)
(1) Cash atof ‘C’
‘A’ is from
Sales The product
maintaining a
‘B’
used used
maturity to
to support
stage
portfolio
balance of –
(1) (2) (3) support
growth
–products
cash cow.‘C’‘D’
of
in the
four products
through
and growth
possibly
Generates
portfolio to
in the at
stage
finance
funds and to of
forstages
different the
portfolio
launch
extension
the PLC ‘D’.
development ‘A’of
– Boston
now
strategy
‘D’
Matrixpossibly
forwith
helps ‘B’?
a
the analysis
dog? D
B
A C
Time
BCG Matrix
Product Cost
Pricing Strategy
Active Strategy
Low Relative Price
High
Low High
Passive Passive
Strategy Strategy
Passive Strategy
Pricing Strategy
• High Active Strategy : Emphasizing High Price Product
Positioning/High Margin Low Volume, Less subject to
retaliation : High End Alcohol/Perfume/Apparel
• High Passive Strategy : Positioning focussing on non-price
factors such as esteem, prestige. BMW, Mercedes, Watches
• Low Active Strategy : Discount Stores, where price is an
important factor. Big Bazaar
• Low Passive Strategy : Products which have lower cost
features. Do not emphasize the low price as it may give a
wrong indication to quality.
• Neutral Pricing : Or at near the prices of the key competitor
All the best !!