The market follower strategy makes the new entrant follow the existing technologies or products to maintain its own market share playing the role of counterfeit, cloner, imitator or adaptor. The third major launch strategy is the nichemanship where the new entrants target a small market segment and try to meet the needs of a certain group of customers offering premium price with specialization in the field.
Emaar Group of Saudi Arabia entering the hotel business is an example of the market challenge strategy of business launch. Emaar Group is an established brand in the real estate sector in the country. Their offerings include houses, schools, healthcare centres and many more to which they are going to add “The Address Hotels and Resorts”, their five star premium global brand of leisure and hospitality. The hospitality sector is already a much flourished sector in the Saudi Arabia dominated by Jumeirah’s rep the leading hotel brand in the country. The fast and aggressive strategy of the Emaar Hospitality Group taking control over both business and leisure tourists through its sub brands including Resort, Retreat, Urban and Business with the help of its around 100 newly recruited hotel staff has threatened the business of Jumeirah’s rep. With this aggressive market challenge and attack strategy of launch the Emaar Group expects to control the hospitality market in the Middle East, North Africa, Indian Subcontinent, Asia, Europe and America in the next 10 years to come (Anon. “Joined up…”2008).
E-banking is not a new concept in the banking services when the Samba Financial Group started its business in the Saudi Arabia in 1980 taking over two existing branches of Citibank in the country. Since the beginning it initiated core banking system in its branches following the technology used by the Citibank and customizing it to fit ...
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