Strategies for growth markets

• Need to determine "market drivers" (the factors that influence market trends in that product class etc.) build on the build-up knowledge of the market (improved targeting from identification of customer group with similar needs; improved efficiency from experience with product, process and materials technologies)
• Competitive advantage often goes to early followers with established businesses in related markets (K-specialists, Lambkin and Day) - e.g. IBM in personal computers

Strategies for mature and declining markets

• Needs and characteristics of buyers have changed; segmentation is advisable - product market is clearly defined, market drivers are often apparent; in most industries there will be a long period of stability before decline
• Strategies for competitive advantage include: stabilise (through cost reduction, selective targeting or product differentiation), turn around, (restructuring) or harvest (decide not to compete).
• Restructuring can include major changes to marketing mix components, organisational restructuring and operating strategies.