Marketing Strategies Based on the Order of Entry
Ansoff and Stewart (1967) illustrate marketing strategies performed by companies in technology-based industries, which are classified into four strategies based on the order of entry, or the time of entry to the market. According to their study, every company in the technology-intensive industries normally adopts one of these marketing strategies: first to market, follow the leader, application engineering, and ‘me-too’ (p.81).
First to Market Strategy
Companies that are the first to market new innovative products are characterized with having robust research and development (R&D) department, advanced technology, the preparedness to accept the risk. Timely decisions are essential, and they must be able to consider whether to launch fast with the risk of failure, or launch slow with the risk of losing the position as the market pioneer (Ansoff & Stewart, 1967).
Follow the Leader Strategy
Organizations who…show more content… By utilizing and combining the tools and methods, such as marketing mix and SWOT analysis, different types of marketing strategies are established, resulting in the typologies of marketing strategies. Each type of marketing strategy create different impacts to the organizations, thus the effectiveness of each strategy depends on the condition and environment of the organizations. However, it can be observe that some strategies are actually the combination of other strategies in different typologies, suggesting that every organization needs a customized strategy that can also be modified in order to compete in the market, survive, and grow. This is also relevant to the development of the marketing strategy for the antifouling paint, which will start with the market analysis and end with a unique sustainable marketing