Defensive strategies are management tools that can be used to fend off an attack from a potential competitor. Think of it as a battleground. You have to protect your share of the market in order to keep your customers happy and your profits stable. Defensive strategies are management tools that can be used to fend off an attack from a potential competitor. The goal of these strategies is to hold onto your position as the market leader, fighting off competitors who try to take away your market share. So, it is defined as a marketing tool that helps companies to retain valuable customers that can be taken away by competitors.
Defending your business strategy is about knowing the market you’re best equipped to operate in and about knowing when to widen your appeal to enter into new markets. In contrast to offensive strategies – which are aimed to attack your market competition – defensive strategies are about holding onto what you have and about using your competitive advantage to keep competitors at bay.
Objectives of Defensive strategies:
- To maintain the existing market share and to maximize profitability
- To safeguard the existing levels of competitive advantage
- To keep up top position in local and existing markets.
