Vocabulary【Market Positions】
Market dominance is how strong a company's brand, services or products are compared to its competitors.
Typically there are four types of market dominance categories.
dominance: 控制者甲，支配地位
leader
A market leader has the largest market share in its industry.
It holds a dominant position.
Market leaders are often the first to develop new products and business methods.
In order to maintain their position, most market leaders invest heavily in research and development.
challenger
A market challenger has a strong position in the market but not a dominant market share.
It may adopt aggressive strategies to increase its market share.
Challengers can also increase their market share by focusing on areas that a market leader has overlooked.
follower
A market follower does not have a strong position in a market.
It doesn't take risks, and usually copies other companies' products or strategies.
They do not focus on increasing their market share.
But by adopting the best practices of other companies, they can maintain a stable position in the market.
nicher
A nicher is a company that concentrates on a specialized market.
Nichers typically provide products or services that are not offered by other companies.
By establishing a niche, a company can avoid competition while making a profit.
Question
- One of the strategies for challengers to gain market share is to introduce differentiated products.
- If they hadn't invested so heavily in research and development, they would have lost their position as a market leader.
- New companies can find a niche market by identifying demands that are not being met by other companies.
- Since followers don't have differentiated products or strategies, they normally have substantially less market share.
- Nichers aim at being a big fish in a small pond instead of being a small fish in a big pond.
substantially: 相當(dāng)?shù)?/p>
