Market challenger

Market challenger,

Definition of Market challenger:

  1. Challenging the market leader on price (direct approach).Increasing product differentiation.Improving customer service (indirect approach).Launching an entirely new product or service in order to change the field (radical approach).

  2. A company aggressively working to obtain the market share of its competitors. A market challenger is a current non-market leader actively trying to move up within their industry.

  3. A market challenger is a firm that has a market share below that of the market leader, but enough of a presence that it can exert upward pressure in its effort to gain more control. Market challengers are able to jockey for industry leadership in several ways:.

How to use Market challenger in a sentence?

  1. Several of the most high profile technology companies today started as market challengers; for example, Facebook challenged both MySpace and Friendster to become the world’s largest social network.
  2. Market challenges can vie for industry leadership through both direct and indirect ways, such as being competitive based on price, product differentiation, customer service, or new products.
  3. A market challenger is a firm that has a market share below that of the market leader, but enough of a presence that it can exert upward pressure in its effort to gain more control.

Meaning of Market challenger & Market challenger Definition