Flanking marketing strategies to win the competition

At every phase of business, one has to face competition as a large number of players prevail in the market. And to survive in this conflicting environment, the businessmen have to come up with some strong strategies that are effective. So, we are here with some effective flanking marketing strategies to win the competition.

Flanking marketing strategies to win the competition

This approach is followed by flanking attack which simply means attacking over the weak points of our business rival in an indirect manner. Let us derive a deep meaning of this statement with an example- A FMGC company which own a large number of brands as its products but it is not a leader in all of its offerings. Seeing it as a weak point a competitor can challenge that FMCG company with a better product.

Just like, Jio communications (telecom service provider) that captured most of the Indian audience as loyal customers with its strong service and hit the blind spot of other telecom players. This marketing technique simply revolves around finding the limitations of the business rival and coming up with better conclusions to win and serve well.

Thought, Flanking marketing aims at winning the existing competition but may fail if applied without analyzing the rival intensely. So, one should follow up after a complete analysis and understanding.

What is Flanking marketing?

It is a marketing strategy in which a company tries to conquer its rival by attacking its weak positions. This master plan is widely used by big firms as a heavy risk is associated with it. A challenging firm can perform a flanking attack with the means of following ways-

On the basis of location- When a firm is located at a place where it is not well established with a strong base and customer support. While the challenging firm finds this as a blind spot to conquer its existing customer support and elevate its reach.

Example- In a rural area where the customers are really price-sensitive and introducing a premium bathing soap which costs $10 is a wrong decision by a company while the other competing brand introduced a standard soap of just $4 is a great step that can win the competition.

On the basis of products and services- Apart from price customers are also attracted to quality, durability, usage, and life of the products. Seeing any of the points as a weak factor a firm can defeat its rival.

Example- A health drink company, which was doing well in the market and claims all the essential nutrients in its powdered form of product but was lacking certain vitamin which is essential for boosting our mental power while the other substitute brand analyzed the drawback and launched with a relatively better supplement in terms of quality. And captured new customers and the clients of the other brand as well.

Point to remember while using Flanking marketing-

  • These strategies are useful when its hard to compete with the company.
  • Though, the level of risk associated with this tactic is low but still it involves a slight threat to challenger.
  • It does not guarantee success. 
  • It usually worked with the existing domains that are not well served. 

Different types of Flanking marketing

Now, followed by flanking marketing strategies to win the competition we will study different types of flanking marketing-

Low price flanking- As we know that customers are price sensitive and in this type of strategy the competitors tries to convince more customers with its low price flanking. Which simply indicates that the challenging firm wanted to take over the competitive player by charging a relatively low price for its products. 

Example- Coca cola labeled its cold drinks with a subtle low price in summer season for deriving more customers and gets an advantage over competitors.

High price flanking- In this type of flanking attack the marketer claims to deliver a high quality products and prove itself better than competitors. Although, it may deliver a high quality but for that it charges a high price for its offering.

Example- Apple iPhone are sold at a higher prices in the market though their features are almost identical with most of the smart phones.

Size flanking- Size flanking means introducing low sized products without compromising the quality and delivering more valuable and beneficial product. 

Example- In 1970, the Japanese automaker acquire the concept of small cars from the US automobiles that deliver more performance and efficiency.

Geographic flanking- This is one of the most important types of flanking marketing strategies to win the competition. In this, the marketer analyzes the different types of segments in the market and choose the one which is underdeveloped and that can turn into a profitable business. At last, creates an effective presence of its goods in that market.

Example- Mitti cool is a small refrigeration system introduced by the company to target the people of rural areas, who cannot afford a refrigerator. It also caters the problem of no electricity in these backward areas as it works without electricity.   

Take away

After reading this content, you might have learn that market is very flexible and a business has to come up with new innovation and modification to its products or services. Apart from this, we got an insight into flanking marketing strategies to win the competition that prevails in this dynamic environment.

You can comment your queries, if any.

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