A defensive marketing strategy is one in which a company protects its current market share from competitors. This can be done through a variety of methods, such as marketing campaigns that tout the superiority of the company’s product, or through pricing strategies designed to discourage competitors from entering the market. In some cases, a company may also engage in legal action to protect its market share.
A defensive marketing strategy is often employed when a company’s product is facing increased competition, or when the market itself is shrinking. By taking steps to protect its current share of the market, the company can ensure that it remains profitable even as conditions become more challenging.
There are some risks associated with a defensive marketing strategy, however. If a company becomes too focused on defending its market share, it may miss opportunities to grow its business in other ways. Additionally, a defensive marketing strategy can sometimes backfire if consumers perceive the company as being scared of competition. In these cases, consumers may be more likely to switch to a competitor that they perceive as being more confident and innovative.
Overall, a defensive marketing strategy can be a useful tool for protecting a company’s bottom line in challenging times. However, it is important to strike a balance between defensive and offensive marketing tactics, in order to ensure long-term growth.