★ Cheap product strategy. Offer customers products and services of average or low quality at very low prices. This strategy is only effective when there is a significant number of price-conscious consumers within a market segment. However, companies that succeed with this strategy may be attacked by companies with "cheaper products" that offer even lower prices. For example, an automobile manufacturer such as Daewoo of Korea, which is known for producing cheap cars, is threatened by Malaysian automobile companies that produce cheaper Proton cars. In order to mount a defense, the former will have to work hard to make the quality of its products constantly improve. ★ Prestige strategy. A market challenger can develop a product of better quality than the market leader and mark a higher price. For example, Mercedes-Benz cars sold in the U.S. market are of better quality than U.S.-made cars and are priced higher than Cadillacs. ★ Product multiplication strategy. A challenger can chase the leader by introducing a large number of different styles of products to provide customers with more choices. For example, Hunt's, in an effort to chase Heinz's lead in the ketchup market, introduced several products with unique flavors and different sizes and packaging, while in contrast Heinz had only one flavor of ketchup and a small number of bottle sizes. ★ Product Innovation Strategy. A challenger can innovate a product to attack the leader's position. For example, Kao introduced a new type of shampoo in 1994 that could be used in both the cold and warm seasons. This product was specifically designed for the East Asian market. If the challenger adopts this product innovation strategy, the most benefit will be to the general consumers. ★ Improved service strategy. The challenger can offer new or better services to customers in a variety of ways. For example, IBM was inspired to succeed when it realized that customers were much more interested in software and technology services than hardware. ★ Distribution Innovation Strategy. The challenger can go out and discover or explore new distribution channels. Avon quickly grew into a major cosmetics company precisely because it implemented door-to-door sales tactics. Instead of competing with other cosmetic companies in traditional stores, it went a different route. ★ Lower production cost strategy. A challenger can make its production costs lower than those of its competitors by improving purchasing efficiency, reducing labor costs, and using more advanced production equipment. The company then uses the lower production costs to set more offensive prices, thereby capturing market share. The Japanese have successfully entered various markets around the world, formally utilizing this key strategy. ★ Intensive advertising and promotion. There are some challengers who have taken on the market leaders by implementing heavy advertising and promotions. Merlot Company invested significantly more in advertising and promotion than Budweiser and thus jumped to the lead in the U.S. beer market. Unless the challenger's product itself or advertising campaign is superior to that of its competitors, it would be unwise to adopt this strategy. Its success depended on combining and using many principles and working over time to improve its position.

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