Marketing of Financial Services: Consumer behaviour in marketing management.

BANKING DIPLOMA EXAMINATION

Banking Diploma Courses in Bangladesh under The Institute of Bankers, Bangladesh (IBB)

  Marketing of Financial Services-JAIBB

A.  Consumer behaviour in marketing management :

1.  Situation analysis :

(a)  Consumer / Market behaviour :

(b)  Internal / Company factors :

(c)  Competitive factors :

2.  Marketing strategy :

(a)  Market segmentation :

(b)  Product differentiation :

(c)  Innovation :

(d)  Achieving greater sales volume to present customers :

(e)  Gaining supply or distribution leverage :

(f)  Diversifying into new market :

3.  Marketing program :

(a)  Product decision :

(b)  Price decision :

(c)  Distribution decision :

(d)  Promotion decision :

B.  Role of consumer behaviour in the design of marketing program,

C.  Consumer research process :

1.  Developing research objectives :

2.  Collection secondary data :

3.  Designing primary research :

(a).  Quantitative research design  :

(i)  Observational research  :

(ii)  Experimental  :

(iii)  Surveys :

(b)  Quantitative research data collection instruments :

(i)  Questionnaire :

(ii)  Attitude scales :

(c).  Qualitative research design and data collection :

(i)  Depth interviews :

(ii)  Focus groups :

(iii)  Projective techniques  :

(iv)  Metaphor analysis  :

(d)  Consumer satisfaction measurement :

(i)  Consumer satisfaction survey :

(ii)  Mystery shopper :

(iii)  Complain analysis :

(e)  Sampling and data collection :

(i)  Sample :

(ii)  Probability sample :

(iii)  Non probability sample :

4.  Data analysis and reporting research findings :

Marketing of Financial Services: Market Segmentation

BANKING DIPLOMA EXAMINATION

Banking Diploma Courses in Bangladesh under The Institute of Bankers, Bangladesh (IBB)

Marketing of Financial Services-JAIBB

Market Segmentation

A.  Levels of market segmentation.

1.  Segment marketing :     

2.  Niche marketing :

3.  Local marketing :

4.  Individual marketing :                  (To Get Download Option Click Read More)

B.  Pattern of market segmentation.

1.  Homogeneous preferences :

2.  Diffused preference :

3.  Clustered preference :

C.  Market segmentation procedure.

1.  Survey stage :

2.  Analysis stage :

3.  Profiling stage :

D.  Basis for segmenting consumer markets.

1.  Geographic segmentation :

2.  Demographic segmentation :

(a)  Age and life - cycle stage :

(b)  Gender :

(c)  Income :

(d)  Generation :

(e)  Social class :

3.  Psychological segmentation :

(a)  Lifestyle :

(b)  Personality :

(c)  Values :

4.  Behavioural segmentation :

(a)  Occasions :

(b)  Benefits :

(c)  Users status :

(d)  Usage rate :

(e)  Loyal status :

            (i)         Hard core loyals :

            (ii)        Split loyals :

            (iii)       Shifting loyals :

(iv)         Switchers :

(f)  Buyer readiness stage :

(g)  Attitude :

5.  Multi – attribute segmentation ( Geoclustering ) :

6.  Targeting multiple segments :

E.  Major segmentation variable for business markets.

1.  Demographic :

(a)  Industry :

(b)  Company size :

(c)  Location :

2.  Operating variables :

(a)  Technology :

(b)  User or nonuser status :

(c)  Customer capabilities :

3.  Purchasing approach :

(a)  Purchasing - function organization :

(b)  Power structure :

(c)  Nature of existing relationship :

(d)  General purchase policies :

(e)  Purchasing criteria :

4.  Situational factors :

(a)  Urgency :

(b)  Specific application :

(c)  Size of order :

5.  Personal characteristics :

(a)  Buyer - seller similarity :

(b)  Attitude toward risk :

(c)  loyalty :

F.  Effective segmentation.

1.  Measurable :

2.  Substantial :

3.  Accessible :

4.  Differentiable :

5.  Actionable :

G. Selecting the market segments.

1.  Single - segment concentration :

2.  Selective specialization :

3.  Product specialization :

4.  Market specialization :

5.  Full market coverage :

Market Segmentation

Marketing of Financial Services: Buyer Behaviour

 BANKING DIPLOMA EXAMINATION

Banking Diploma Courses in Bangladesh under The Institute of Bankers, Bangladesh (IBB)

Marketing of Financial Services-JAIBB

Buyer Behaviour

A.  Major factors influencing buying behaviour.

            The aim of marketing is to meet and satisfy target customers’ needs and wants. Some time customer say something but actually do different. Their buying behaviour influenced by many factors.

1.  Cultural factors :                      (To Get Download Option Click Read More)

            The culture is the most fundamental determinant of a person’s wants and behaviour. 

(a)  Culture :

            Culture has a broadest and deepest influence on buying behaviour. The growing child acquires a set of values, perceptions, preferences, norms and behaviour through his or her family and other key institutions. For example, a child growing up in the United States is exposed to the following values : achievement and success, activity, efficiency and practicality, progress, material comfort, individualism, freedom, external comfort, humanitarianism and youthfulness.    

(b)  Subculture :

            Each culture consist of smaller subcultures that provide more specific identification and socialization for their members. Subcultures include nationalities, religions, racial groups and geographic regions. Many subcultures make up important market segments and marketers often design their product or services and marketing programs according to consumers needs.  

(c)  Social class :

            Social classes are relatively homogeneous and enduring divisions in a society, which are hierarchically ordered and whose members share similar values, interests and behaviour. Social classes do not reflect income alone, but also other indicators such as occupation, education and area of residence. Social classes differ in dress, speech patterns, recreational preferences and many other characteristics.

Social classes have several characteristics. First, those within each social class tend to behave more alike than persons from two different social classes. Second, persons are perceived as occupying inferior or superior position according to social class. Third, social class is indicated by a cluster of variables - for example, occupation, income, wealth, education and value orientation - rather than by any single variable. Fourth, individuals can move from one social class to another - up or down - during their life time.      

2.  Social factors :

            A consumer’s buying behaviour is influenced by such social factors as reference groups, family and social roles and status.

(a)  Reference groups :

            A person’s reference groups consists of all the groups that have a direct ( face to face ) or indirect influence on the person’s attitudes or behaviour. Groups having direct influence on a person are called membership groups. Some membership groups are primary groups, such as family, friends, neighbors and co – workers, with whom the person interacts fairly continuously and informally. People also belong to secondary groups, such as religious, professional and trade - union groups, which tend to be more formal and require less continuous interaction.

            Their reference groups in at least three ways significantly influence people in our society. Reference groups expose an individual to new behaviours and lifestyles. Their attitudes and self - concepts also influenced by the reference groups. And they create pressures for conformity that may affect actual product and brand choices. So, marketers try to identify their target customer’s reference groups, which influence varies among product and brand choices. 

(b)  Family :

(c)  Roles and status :

3.  Personal factors :

(a)  Age and stage in the life cycle :

(b)  Occupation and economic circumstances :

(c)  Personality and self - concept :

4.  Psychological factors :

(a)  Motivation :

(i)            Freud’s theory :

(ii)           Maslow’s theory :

(iii)          Herzberg’s theory :

(b)  Perception :

(i)            Selective attention :

(ii)           Selective distortion :

(iii)          Selective retention :

(c)  Learning :

(d)  Beliefs and attitudes :

B.  Buying roles.

            It is easy to identify the buyer for many products. But even the marketers must be careful in making their targeting decisions, because buying roles can be change. Five types of people might play roles in a buying decision. These are :

1.  Initiator :

            A person who first give or suggest the idea of buying the products or services.

2.  Influencer :

            A person whose view or advice influence the buying decision.

3.  Decider :

            A person who decides on any component of a buying decision, whether to buy, what to buy, how to buy, when to buy and where to buy.

4.  Buyer :

            The person who makes the actual purchase of products or services.

5.  User :

            A person who consumes or uses the products or services.

C.  Buying behaviour.

            Consumer decision - making varies with the different type of products or services buying decision. We can classify the consumer buying behaviour into four categories, these are :

1.  Complex buying behaviour :

            Complex buying behaviour involves a three - step process. First, the buyer develops beliefs about product. Second, he or she develops attitudes about the product. Third, he or she makes a thoughtful choice. Consumers engage in complex buying behaviour when they are highly involved in a purchase and aware of significant differences among brands. This is usually the case when the product is expensive, bought infrequently, risky and highly self - expressive. Typically the consumer does not know much about the product category. So, the marketer of a high - involvement product must have to understand the consumer’s information gathering and evaluation behaviour nature.    

2.  Dissonance - reducing buying behaviour :

            Sometimes the consumers are highly involved in a purchase but see little difference in brands. The high involvement is based on the fact that the purchase is expensive, infrequent and risky. The buyer will try to learn more information about the product what is available at the time of purchase but will buy fairly quickly, perhaps responding to a good price or to purchase convenience. For example, carpet buying is a high - involvement decision because carpeting is expensive and self – expressive, yet the buyer may consider most carpet brands in a given price range to be the same.

            After the purchase, the consumer might experience dissonance that stems from noticing certain disquieting features or hearing favourable things about the other brands.      

3.  Habitual buying behaviour :

Many products are bought by the consumer under conditions of low involvement and absence of significant brand preference. Such as salt, sugar, match etc. Consumers have little involvement in this product category. They go the store and reach for the brand. If they do not get their own brand then they shifts into the other brand. They have no strong brand loyalty. The consumers have low involvement with most low cost, frequent, less risky purchased products.

With these products, consumer behaviour does not pass the normal sequence of belief, attitude and behaviour. Consumers do not show interest to search extensively for information, evaluate characteristics and make decision on which brand to buy.   

Marketers of such kinds of products find it effective to use price and sales promotions to stimulate product trial.

4.  Variety - seeking buying behaviour :

            Some buying situations are characterized by low involvement, frequent, less risky but significant brand differences. Here consumers often do a lot of brand switching. As for example, cookies. The consumer has some beliefs about cookies, chooses a brand of cookies without much evaluation and evaluates the product during consumption. Next time, the consumer may reach for another brand out of a wish for a different taste. Brand switching occurs for the sake of variety rather than dissatisfaction.

D.  Post purchase behaviour.

1.  Post purchase satisfaction :

2.  Post purchase actions :

3.  Post purchase use and disposal :

Buyer Behaviour

Marketing of Financial Services:Marketing Environment

BANKING DIPLOMA EXAMINATION

Banking Diploma Courses in Bangladesh under The Institute of Bankers, Bangladesh (IBB)

Marketing of Financial Services-JAIBB

Marketing Environment

A.  Demographic environment.                  (To Get Download Option Click Read More)

            Marketers are much more interested to monitor the demographic environment, because population makeup the market.

1.  World population growth :

            The world population explosion has been a source of major concern, for two reasons. The first is the fact that certain resources needed to support this much human life ( fuel, foods and minerals ) are limited and may run out at some point. Unchecked population growth and consumption would eventually result in insufficient food supply, depletion of key material, over crowding, pollution and an overall deterioration in the quality of life.

            Second cause for concern is that population growth is highest in some countries and communities that can least afford it. In the developing countries, the death rate has been falling as a result of modern medicine, but birth rate remained fairly stable. Feeding, clothing and educating of their children while also providing a rising standard of living is nearly impossible in these countries.  

2.  Population age mix :

            National populations vary in their age mix. At one extreme is Mexico, a country with a very young population and rapid population growth. At the other extreme is Japan, a country with one of the world’s oldest populations. In Mexico milk, diaper, school supplies and toys would be the important products. But in Japan most of the population consume many more adult products.

            So, the marketers have to create separate products and services for different countries and have to choose different price, distribution and promotional strategies for them.      

3.  Ethnic market :

            Countries also vary in ethnic and racial makeup. At one extreme is Japan, where almost every one is Japanese. But on the other extreme is United States, where virtually people came from all nations. Each group has certain specific wants and buying habits. Several food, clothing and furniture companies have directed their products and promotions to one or more of these groups.     

4.  Education groups :

            The population in any society falls into five groups, illiterate, high school dropouts, high school degree, college degree and professional degrees. The marketers have to observe the size of each groups in a society and according to their size they have to design their production plan for different products and services.        

5.  Household patterns :

            The traditional household consists of a husband, wife and children. But in some other societies we observed that their household patterns are nontraditional including single live -  alones, adult live – togethers, single parent families, childless married couple and so on. Single or separated families needed smaller apartment, inexpensive and smaller appliances, furniture and small size food packets. So, the marketers have to consider to the household patterns of the different societies. 

6.  Geographical shifts in population :

Population movement from one country to another or from rural to urban areas. Location makes a difference in goods and service preferences. Those who lived in large cities their most of the purchase are expensive furniture, perfumes, cloths and so on. Suburbanites buy home workshop equipment, outdoor furniture and outdoor coking equipments etc. So, the marketers have to consider to the geographic shifts in population.    

7.  Shift from a mass market to micro - markets :

            The effect of all these changes is fragmentation of the mass market into numerous micro - markets differentiated by age, sex, ethnic background, education, geography, lifestyle and other characteristics. Each group has strong preferences and marketer has to reached the customer through increasingly targeted communication and distribution channels. Marketers are increasingly design their products and services and selected their marketing programs for specific - micro markets. 

B.  Economic environment.

            Without the purchasing power, consumers are not able to fulfill their needs and wants properly. The available purchasing power in an economy depends on current income, price, savings, debt and credit availability. Marketers pay close attention to major trends in income and consumer spending patterns.  

1.  Income distribution :

            Nations economic condition mostly depend on the level and distribution of income and industrial structure. There are four types of industrial structures are observed in the national economy.

(a)  Subsistence economies :

            In a subsistence economy, the vast majority of people engage in simple agriculture, consume most of their output and barter the rest outputs for simple other goods and services. These economies offer few opportunities for the marketers. 

(b)  Raw material exporting economies :

            These economies are rich in one or more natural resources but poor in other respects. Much of their revenue comes from exporting these resources. For example, Zaire and Saudi Arabia has copper and oil resources and they export them in the international market. These countries are good markets for extractive equipment, tools and supplies, materials handling equipments and trucks. Depending on the number of foreign residents and wealth or rich rulers and landholders, they are also a good market for western - style commodities and luxury goods. 

(c)  Industrializing economies :

            In an industrializing economy, manufacturing begins initially to account for 10 percent to 20 percent of gross domestic product. Industrializing economies countries are India, Egypt, Philippines, Malaysia and so on. As manufacturing increases, the country depends more on imports of raw materials, steels and heavy machinery and less on imports of finished textiles, paper products and processed foods. Industrialization creates a new rich class and a small but growing middle class, both demanding new types of goods and services.        

(d)  Industrial economies :

            Industrial economies are major exporters of manufactured goods and investment funds. They buy manufactured goods and export them to other types of economies in exchange for raw materials and semifinished goods. The large and variety of manufacturing activities of these nations and their sizable middle class make them rich markets for all sorts of goods.       

2.  Saving, debts and credit availability :

            Consumers expenditures are affected by consumer saving, debt and credit availability. Consumers saving habit increase the amount of deposits, which is helpful for banks to reduce the bank interest rate and increase the loan availability. Access to lower interest rate helps the companies to expand faster. When credit facilities are available then consumers can purchase many goods and services, otherwise these are not possible at present. Marketers must pay careful attention to major changes in income, cost of living, interest rate, savings and borrowing patterns because they can have a high impact on business, specially for companies whose products have high income and price sensitive.        

C.  Natural environment.

1.  Shortage of raw materials :

2.  Increased energy cost :

3.  Increased pollution levels :

4.  Changing role of governments :

D.  Technological environment.

            One of the most dramatic forces makes rapid changes of human life is technology. The economy’s growth rate is affected by the discoveries of new major innovated technologies. The marketers are monitoring the new innovation and trend of technology.

1.  Accelerating pace of technological change :

            Many of today’s common products were not available 40 years ago. People of that time were did not know personal computers, digital wristwatches, video recorders, mobile phones and fax machines. The advent of personal computers and fax machines has made it possible for people to telecommunicate the others that is, work at home instead of traveling to offices that may be takes 30 minutes or more. Some people hope that this trend of technology will reduce auto pollution, healthy society, bring the family close together and create more home centered entertainment and activities. It will also have substantial impact on shopping behaviour and marketing performance.      

2.  Unlimited opportunities for innovation :

            Scientists are working on a startling range of new technologies that will revolutionize products and production process. Some of the most exciting work is being done in solid - state electronics, biotechnology, robotics and material sciences. Researchers are working on AIDS cures, happiness pills, painkillers and nonfattening foods. They are designing efficient robots for firefighting, underwater exploration and home nursing. In addition scientists are also working on fantasy products, such as small flying cars, three - dimensional television and space colonies. The challenge in each case is not only technical but also commercial – to develop affordable versions of these products.   

3.  Varying research and development budgets :

            The United States annual research and development expenditures are highest in the world, nearly 60 percent of these funds are still earmarked for defense. Japan has increased its research and development expenditures much faster than the United States and is spending mostly on nondefense related research in physics, biophysics, biochemistries, material science, geography and computer science. Many companies are content to put their money into copying competitors’ products and making minor feature and style improvements. So, new innovation of technology depends upon the nature of research work and on the amount of budgets allocated for research and development works.      

4.  Increased regulation of technological change :

            As products become more complex, the public needs to be assured of their safety and security. Consequently, government agencies’ powers to investigate and ban potentially unsafe products have been expanded. Safety and health regulations have also increased in the area of food, automobiles, clothing, electrical appliances, medical sciences and construction. Marketers must be aware of these regulations when proposing, developing and lunching new products in the markets.     

E.  Political legal environment.

1.  Legislation regulating business :

2.  Growth of special - interest groups :

F.  Social cultural - environment.

1.  High persistence of core cultural values :

2.  Existence of subcultures :

3.  Shifts of secondary cultural values through time :

Marketing of Financial Services

Marketing of Financial Services-Designing Competitive Strategies

 BANKING DIPLOMA EXAMINATION

Banking Diploma Courses in Bangladesh under The Institute of Bankers, Bangladesh (IBB)

Marketing of Financial Services-JAIBB 

Designing Competitive Strategies

Designing Competitive Strategies

We can further classify the firms by the role they play in the target market. These are :
1.     Market leader – Who has 40 % or more then market shares in the industry. 
2.     Market challenger – Who has 30 % market shares in the industry.
3.     Market follower – Who has 20 % market shares in the industry.
4.     Market nicher – Who has 10 % or below 10 % market share in the industry.

Market leader Strategies.

A.  Market leader Strategies.          (To Get Download Option Click Read More)

            Many industries contain one firm or a firm, which has 40 % or more than 40 % market share is called market leader. It usually leads the other firms in price changes, new product
innovation or introduction, distribution coverage and promotional intensity. Some of the well known market leaders are Kodak ( photography ), Coca - Cola ( soft drink ), Mcdonald ( fast food ), Microsoft ( computer software),  and so on.    

1.  Expanding total market :

            The dominant firm normally gains the most when the total market expands. In general, the market leader should look for new users, new uses and more usage of its products. 

(a)  New users :

            Every product class has the potential of attracting buyers who are unaware about the product or who are resisting it because of price or lack of certain features. A company can search for new users among the three groups. Those who might use it but do not use or buy it at present ( market penetration strategy ), those who have never use it ( new market segment strategy ) or who live elsewhere ( geographical expansion strategy ).   

(b)  New uses :

            Markets can be expanded through discovering and promoting new uses for the product. In many cases, customers deserve credit for discovering new uses. For example, Vaseline petroleum jelly started out as a lubricant in the machine shops. Over the years, users have reported many new uses for the product, including a skin ointment and hairdressing.    

(c)  More usage :

            A third market expansion strategy is to convince people to use more products per use occasion. Soft drink manufacturers convince the customer to use more soft drinks daily rather than to use on occasions.  

2.  Defending market share :

            While trying to expand total market size, the dominant firm must continuously defend its current business against rival attacks. The market leader leads in the industry in developing new product and customer services, distribution effectiveness and cost cutting. It keeps increasing its competitive strength and value of the customers. Market leaders are using different types of strategies to defending their market share. These are : 

(a)  Position defense : 

            The basic defense is to build an impregnable fortification around one’s territory. Coca – Cola today, selling nearly half the soft drinks in the world, has acquired fruit drink companies and diversified into desalinization equipment and plastics. Although defense is very important, leaders under attack would be foolish to pull their resources into only building fortifications around their current product.     

(b)  Flank defense : 

            The market leader should also erect outposts to protect a weak front or possibly serve as an invasion base for counterattack. 

(c)  Preemptive defense : 

            A more aggressive maneuver is to attack before the enemy starts its offense. A company can launch a preemptive defense in several ways. It can wage guerrilla action across the market – hitting one competitor hare, another there – and keep everyone off balance. Or it can try to achieve a grand market environment. It can begin sustained price attacks. Or it can send out market signals to dissuades competitors from attacking.   

(d)  Counteroffensive defense : 

            Most market leaders, when attacked, will respond with a counterattack. The leader can not remain passive in the face of a competitor’s price cut, promotion blitz, product improvement or sales territory invasion. In a counteroffensive, the leader can meet the attacker frontally or hit his flank or lunch a pincer movement.

            An effective counterattack is to invade the attacker’s main territory so that it will have to pull back some troops to defend the territory. Another counteroffensive defense is the exercise of economic or political clout to deter the attack. The leader may try to crush a competitor by subsidizing lower prices for the vulnerable product with revenue from its more profitable products. Or the leader may prematurely announce that a product upgrade will be available to prevent customers from buying the competitor’s product. Or, the leader may lobby legislators to take political action that would inhibit or cripple the competition.   

(e)  Mobile defense :

            In mobile defense, the leader stretches its domain over new territories that can serve as future centers for defense and offense. Mobile defense can be classify into two categories : 

(i)  Market broadening :

Market broadening involves the company in shifting its focus from the current product to the underlying generic need. The company gets involved in research and development across the world range of technology associate with that need. Such as, thus ‘petroleum’ companies sought to recast themselves into ‘energy’ companies.  

(ii)  Market diversification :

Market diversification into unrelated industries is the other alternative. When U.S. tobacco companies are well known about the movement against cigarette smoking, they were not content with position defense or even looking for substitutes for the cigarette. Instead they moved quickly into new industries, such as beer, liquor, soft drink etc.      

(f)  Contraction defense : 

            Large companies sometime recognize that they can no longer defend all of their territory. The best course of action for company, then appears to be planned contraction ( also called strategic withdrawal ). Planned contraction means giving up weaker territory and reassigning resources to stronger territories. 

3.  Expanding market share :

            Market leader can improve their profitability by increasing their market share. Achieving or gaining increasing market share in the served market will not automatically improve the profitability of the company. Because the cost of gaining higher market share may far exceed its revenue value, a company should consider three factors before pursuing increased market share :

The first factor is the possibility of provoking antitrust action. This rise in risk would cut down the attractiveness of pushing market share gains too far.

The second factor is economic cost. The cost of gaining further market share might exceed the value. So, some market leaders have even increased profitability by selectively decreasing market share in weaker areas.

The third factor is that companies might pursue the wrong marketing mix strategy in their bid for higher market share and therefore fail to increase profits. Companies that win more market share by cutting price are buying, not earning a large share and their profits may be lower.    

Market challenger strategies.

B. Whom to attack by the market challenger.

            A market challenger must first define its strategic objective. Most aim to increase market share. The challenger must decided whom to attack.

1.  It can attack the market leader :

            This is a high - risk and huge investment but potentially high pay- off strategy and makes good sense if the leader the leader is not serving the market well. The alternative strategy is to out innovate the leader across the whole segment.

2.  It can attack firms of its own size :

            It can attack the firm of its own size that are not doing the job and are under financed.

3.  It can attack small local and regional firms :

            Several major market challenger companies grew to their present size by gobbling up small firms.          

C.  Attacking strategies of market challenger.

1.  Frontal attack :

2.  Flank attack :

3.  Encirclement attack :

4.  Bypass attack :

5.  Guerilla attack :

D.  Choosing a specific attack strategy by the marketer challenger.

1.  Price discount :

2.  Cheaper goods :

3.  Prestige goods :

4.  Product proliferation :

5.  Product innovation :

6.  Improved services :

7.  Distribution innovation :

8.  Manufacturing cost reduction :

9.  Intensive advertising promotion :

E.  Market follower strategies.

1.  Counterfeiter :

            The counterfeiter duplicate the market leader’s product and package and sells it on the black market or through disreputable dealers. 

2.  Cloner :

            The cloner emulates the market leader’s products, name, brand and packaging with slight variations. 

3.  Imitator :

            The imitator copies some things from the market leader but maintains differentiation in terms of packaging, advertising, pricing and so on. The market leader does not mind the imitator as long as the imitator does not attack the market leader aggressively.

4.  Adapter :

            The adapter takes the market leader’s products and adapts or improves them. The adapter may choose to sell his product to different markets. But often the adapter grows into future market challenger.    

Market Nicher Strategies.

F.  Specialist roles are open to the market nichers :

01.  End - user specialist : 

02.  Vertical - level specialist :

03.  Customer - size specialist :

04.  Specific - customer specialist :

05.  Geographic specialist :

06.  Product or product line - specialist :

07.  Product - feature specialist :

08.  Job - shop specialist :

09.  Quality - price specialist :

10.  Service specialist :

11.  Channel specialist :

Designing Competitive Strategies