The document discusses different strategies for companies based on their market position. It identifies leaders, challengers, followers, and nichers. Leaders focus on maintaining their position, while challengers look to displace the leader. Followers have a less aggressive approach. Nichers focus on specialized roles within the market to carve out their space. The document advocates developing multiple niches rather than a single niche to increase chances of survival. It also discusses innovation and having many ideas to increase the likelihood of good ideas, and not being afraid of failure which is essential to innovation.
11. SPECILIST ROLES OF NICHES
Product-line specialist
Customer size specialist
Specific customer specialist
Quality- price specialist
End use specialist
Geographic specialist
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12. MULTIPLE NICHING
Firm should `stick to its niching but
not necessarily to its niche. That is why
multiple niching is preferable to single
niching. By developing strength in two
or more niches the company increases
its chances for survival.
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