Market Leader vs. Market Followers

1901 WordsJan 29, 20118 Pages
Topic of the article: Market leaders’ v/s Market followers Author Ruhi Lal Senior Lecturer Amity School of Communication (ASCO) Amity University, Sec-125, Noida, UP The author can be reached at Abstract The article is aiming to study how big brands are losing their market share & what changes they are bringing in their marketing strategy to cope up with the current market scenario or to regain their market share. This study is focused on leadership in Indian market on various segments, Brand loyalty, and brand differentiation. This study focus on current market scenario with changing trends of market share in various segments. Introduction Competition essentially means a fight and a monopolist enjoys…show more content…
According to HBS professor Youngme Moon.” Brand Loyalty Brand loyalty is harder to come by today as different brands are coming with too many choices and not with enough differences. Well known brands command a price premium. Japanese companies such as Sony and Toyota have built a huge brand loyal market .At the same time, developing a branded product loyal to the customer requires a great deal of long term investment, especially for advertising, promotion & packaging. Woodland is a brand that has built its brand equity on the pillars of being sturdy and durable with futuristic designs. It has also forayed into apparels and accessories. To maintain their positioning in the mind of consumer the brand has also introduced more specialized products like Yoga collection, Kids collection and the Woods collection. The brand has customized products for the adventure enthusiasts and keeps adding new technologies to make their products the ideal choice for all adventure lovers. Now, the brand has been focusing on eco-friendly products and uses raw materials that are less harmful to the environment. We’re familiar with the acronym WIIFM, which stands for “What’s in it for me?” This is the exact question that the consumers are asking themselves, and the brands need to be able to answer them properly. If they are unable to do the same the consumer will switch from one brand to another. The economics of customer retention makes a compelling case for relationship
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