Offensive Competitive Strategy
Definition of 'Offensive Competitive Strategy'
Offensive strategies are often used by companies that are already in a strong market position and want to maintain or increase their dominance. They can also be used by companies that are entering a new market or trying to make a comeback after a period of decline.
There are a number of different types of offensive strategies that can be used. Some of the most common include:
* **Price competition:** This involves lowering prices in order to make it more difficult for competitors to compete. This can be a risky strategy, as it can lead to a price war that could damage all of the competitors involved. However, it can also be very effective if it is done in a way that does not damage the company's profits.
* **Product differentiation:** This involves differentiating the company's products from those of its competitors in a way that makes them more attractive to customers. This can be done through a variety of means, such as improving quality, adding features, or changing the design.
* **Marketing and advertising:** This involves increasing the company's marketing and advertising efforts in order to generate more awareness and demand for its products. This can be a very effective way to increase market share, especially if the company is able to target its marketing efforts effectively.
* **New product development:** This involves developing new products that are designed to appeal to new markets or to customers who are not currently being served by the company. This can be a risky strategy, as it can be difficult to predict the success of new products. However, it can also be very rewarding if the company is able to develop a successful new product.
Offensive strategies can be very effective in helping companies to increase market share and achieve their business goals. However, it is important to note that these strategies can also be risky and should only be used after careful consideration.
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