What are the different types of marketing strategies based on market dominance?

What are the different types of marketing strategies based on market dominance?

Based on the market dominance,firms are categorised as per their market share or dominance of the industry. These strategies can be divided into 4 basic categories:

a.Leader: the company occupies the no.1 position in the market and has gained a strong foothold in the market.

b.Challenger: This company poses challenges to the leader in terms of the products and services offered by it.

c.Follower: this firm follows the leader and provides similar products and services in the market.

d.Nicher: this firm creates a niche market targeting a handful of customer offering exclusive prices for the products in question.