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Declining Competitive Position Strategy Options

Potentially attractive strategy options for a company in an also-ran or declining competitive position include which of the following:

- A strategy to merge with or acquire other firms in an attempt to join forces and create a stronger enterprise
- A guerrilla warfare strategy
- A harvesting strategy aimed at turning the firm into a cash cow instead of a cash hog by selling off some of the company's assets
- A preemptive strike strategy
- Buying market share with deep price cuts and trying to gain significantly greater buyer recognition and attention shifting to a strategy that is largely a carbon copy of the market leader's strategy
- An offensive turnaround strategy, a fortify-and-defend strategy, an immediate abandonment strategy, or an end-game strategy
- Broadening the company's product line to incorporate models and styles not offered by rival firms, boosting advertising, cutting prices, and/or aggressive internal efforts to correct the company's resource deficiencies

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Solution Summary

This response outlines some potential strategy options for companies that are in a declining competitive position.