Got a tricky question? Receive an answer from students like you! Try us!

Definition of Market Leader - Essay Example

Only on StudentShare
Masters
Author : josiahjohns
Essay
Marketing
Pages 2 (502 words)

Summary

The term “Market Leader” refers to those companies and industries that accomplish a superseded place on the basis of their products and services which are adopted by majority of customers and become market standards…

Extract of sample
Definition of Market Leader

There are three major types of Market Leaders. Market leaders that are concentrated highly on operational brilliance comes under the first category. Wal-Mart is the best example of a company that focuses more on its operational excellance. It is a company devoted to provide low to reasonable prices with high class services. Corporations that zilch in on product leadership comes under the second category of Market Leaders. Firms like Intel, Microsoft, and Nike deals with the finest products in their target markets and continue to improvise their originality to keep themselves on top of their competitors every year (Delery, Doty, 1996, 802). Customer intimacy is another tool to attain a top ranking in the market. Firms that emphasize on customer intimacy works exhaustly to provide best possible solutions to their customers on. Nordstrom is a worthy example of a company whose business works over the concept of customer intimacy. Market leaders gets many advantages due to their huge market share that their competitors can only dream of. They generally get premium price for their products due to their brand strength. They enjoy lower product costs, longer product cycle and smaller sales cycle due to market responsiveness to their product lines. On the other side, All customers do not have high purchasing power, therefore market leaders’ product lines faces increased amount of market threats. Makrket leaders have to update their products on frequent basis to counter with piracy and their competitors.
...
Download paper

Related Essays

Developing Strategic Management and Leader ship skills: A Case Study of 'The Fall of IBM'
The intention of this study is IBM as one of the largest multi-national companies in the world, a global leader in information technology, with a market capitalization larger than most developing countries’ entire annual GDP at around $210 billion USD currently. IBM as a company grew from a family oriented management team under founder Tom Watson and later CEO Tom Watson, Jr. to become one of the largest international manufacturers of mainframe computers in the 1960-70’s. Garreth Jones of Texas A&M University has written a historical account of what he calls “The Fall of IBM”,…
18 pages (4518 words)
Samsung as a new IT leader
This paper concerns the marketing as a business strategy by which a manufacturer or producer of any goods or services shifts from the basic production function and takes into concern the needs and requirements of the customers-to-be. In this case, a manufacturer aims at discovering what customers’ interests in a rival product are and then attempt convince them that their product is better than the rivals’. The marketing department sells the product to the customer in such a way that the customer feels they have gained from the bargain more utility than they have paid for. Concisely, the…
10 pages (2510 words)
Possible Impacts of Marketing Innovation on the Organizational Culture of a market leader, and Managerial Attitudes Towards its
This two-way communication takes place over online social media (OSM), like Facebook, Twitter and YouTube (Shu & Chuang, 2011). In the last decade the marketing communication has adapted to this new possibilities and the international percentage of interactive marketing with the customer has tripled (Kottler, Wong, Saunders, & Armstrong, 2005). Marketing and innovation in marketing depend largely upon the leadership from the top management within an organization. The right organizational culture and the focus on marketing are crucial for companies in a competitive industry (Bridgewater &…
11 pages (2761 words)
Market Segmentation Essay
95-96). All firms must ensure that the product/service that they are offering is different from their competitors in some aspect. In this era, there is no such thing as a standardized product which is suitable for use by all people. Hence, no firm seeks to target the whole market at large and it is highly difficult to target a large potential market with the same product and the same marketing strategies. No products except maybe staple foods such as fruits, vegetables, bread, butter, and other important dietary supplements are aimed at targeting the whole population of consumers and are…
6 pages (1506 words)
Essay on Solar market
The marketing plan for solar panels will consider the marketing mix elements such as product, price, place and promotion along with other environmental aspects such as the economic and the social conditions. The objective of the paper is to develop a marketing strategy for solar panels on behalf of XYZ Company. Solar Market of the United States The solar market of the United States is considerably large and is growing at a significant rate. The high cost of generating power along with high customer demand for energy and monetary inducements from federal government has accelerated the growth of…
6 pages (1506 words)
profit implications of customer loyalty, market segments, market share and potential market for Sony
This essay entails the implications of profits to the market variables and specifically draws comparisons on Apple Company and Sony Company (Capon, & Hulbert, 2007:60). Apple company inc. wins over its close competitors by trying different strategies that seek to lure customers into the company’s loyalty team. Some of the biggest strategies that Apple endures on are product innovative, aimed at producing the best gadgets that the customer may desire in the technological world. Apple Company outlines the customers who may make a given purchase at a given price (Lamb, et al 2009:45). The…
essay
These affect the consumer buying behaviour. The effects of the external environment affect coffee markets at relatively low rates. Despite adverse economic trends in UK, statistics indicate that UK recorded relatively high GDP growth rate of 4.5%. Most of the English provinces saw the risk weighted adequacy ratio for the capital improve as well as progress of financial improvements and reconstruction. The current paper analyzes the external and internal marketing environment for Costa Coffee. This considers both micro and macro marketing environment as well as the major events and trends that…
10 pages (2510 words)