Answer to Question #166707 in Psychology for Sunny

Question #166707

Industry figures suggest that "Clinique" is the market leader in the skin care industry, which deals in cleansing lotions, skin toners and moisturizers. Describe the main objectives or focus of a market leader in terms of their competitive strategy and the activities they may undertake to achieve those objectives.


1
Expert's answer
2021-03-05T06:55:55-0500

Market leaders use competitive strategies to ensure they remain in the leadership position and achieve success without much struggle. The aim is to ensure they get new customers and retain existing customers effectively. 

The strategies involved include; marketting in an attempt to increase product consumption and winning new customers and defending market share by building superior brands. The market leaders also identifies and attacks the competitors weakness in terms of service delivery. They identify external attacks by competitors atnd counters this attack to ensure they remain at the top position. Cloner tactic is another strategy where the company comes up with a new packaging with slight variations of the product to ensure the product remains competitive. The company can also utilize the adaptor strategy where they imitate and improve other companies marketting strategies. The imitator strategy is also an important strategy as it ensures the company markets it's products in a similar way as the other companies.


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