Tuesday, November 1, 2011

How to be a Market Leader?

What does it mean to be a market leader? A market leader is a brand, product, company, or person that is dominant in the industry with large and substantial market share in the market. Other factors dominate as well including innovation, brand power, customer satisfaction and loyalty, price, and profit.  
Being a market leader means being the first to develop new and innovative business models, products, and services, as well as the first in cutting edge business and technology. They find solutions to customers' problems, and are faster than the competition.  

Here are some ways your product, brand, business, or you yourself can become a market leader.

Power the Brand

The brand is the voice, image, and personality of a company. It's what makes the company, product, or service recognizable. The brand leader is the most widely sold and most well-known leader in that market sector. The leader also has the largest profit margins. Therefore, one's ultimate goal is to be a leader in bother brand and market.

Beat the Competition

This goes without saying. No matter how good your product, company, or service is, you will most likely be faced with competition. If the competition is strong and worthwhile, you'll have your work cut out for you. Look for ways to challenge your company with or without competition so that you'll be able to knock the competition when the time comes (and it will!)

Use Your Resources, Create Value

No one's going to go for a company that doesn't have a good backing or a good product/service.  Therefore, being a market leader means using one's resources to develop your product or service, create business models, be first in cutting edge business and technology, and provide solutions to customer questions and problems. This, in turn, creates value for your company in its market and can direct it towards a market leader status. 

25 comments:

  1. This is a very informative article.this surely can help me improve my business and my personality.

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  2. wonderful and a crisp article on market leaders. Would like to add that - one needs to highlight the USP (Unique Selling Point) of one's product or service in order to become a market leader. Because, that one thing can make a hell lot of difference to you and your business.

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  3. I agree, being a market leader one must possess a strong personality, trustworthy, competent and a fighter. Always maintain the good image of your company/product/brand, securing the trust of the people is one factor for you to staying long in this business.

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  4. I am very interested in this kind of article. Since I am keen on making money and I also hope one day I will have my own business. I have learned a lot from this article. I think everybody wants to be the market leader:)

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  5. Very efficient description for market leader. The market leader dominates by his quality, wisdom and hifh quality performence. He or it distinguishes the proper identity with large and substantial market share in the market, innovation, brand power, customer satisfaction and loyalty, price, and profit. I fully agree with this statement of the auther. The power of the brand by quality, the capacity to beat competition by quality and accumulation of rich resouces are worthy of a Market Leader

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  6. very godd explanation and give me some of inspiration.
    It is really good article and it can be my referrence.
    Improve our skill to make a success.
    cheers.

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  7. In order to be a market leader, one has got to have the excellent skills of comprehension regarding what he is doing in the first place. The above mentioned points are definitely important, but one has got to understand what his product and brand has, as an advantage over the competitors. He also has to know what his target market is. An excellent taste for imaging and packaging should be with him so he knows how to present the brand into the market to capture crowds.

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  8. I think to be a market leader first of all you need to like what you are doing and you need to know what you want to sale.
    I think day after day you learn a new thing about how to be a good leader.

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  9. This article makes real sense. I think this will really help those who aspire to have a market leadership. One has just to follow the ways enumerated here in order not to fail in his goal to be a market leader.

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  10. This article is very good. The subtitles has its own description. This article has got simple and effective description. This helps not only the market leader but also MBA students.

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  11. This is a great article. I think to be a market leader, first of all, we need to know what the society around us needs the most. To be a market leader, is not difficult, if we know the tricks.
    Good share!

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  12. I love this article very straight to the point. Sometime being top of all the market are behind of those endorsement by popular people. And yes I agree on using the most of the resources to market it more!

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  13. This is very informative article. Thanks for sharing this because I want to be a market leader someday. You did a great job. Keep posting!

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  14. An interesting information, with an explanation that is easily understood. It seems that the steps recommended in this article will be very useful. Of course I will study and try to practice it. Good article!

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  15. It not easy to get in the market and sustain the pressure. It is very hard to hold the position in the market as a leader.
    Most important part is to make value in the market or brand yourself.
    The tips here are quite useful, one must apply them to get success.

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  16. Marketing leader position is not an easy one, we must have lot of qualities to achieve it, your article gives some good tips and information to the person whoever interested in this field. It is a nice guide to achieve the target

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  17. how to be a market leader?, this article has real time information, it is very helpful to mba students.

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  18. It is a good message, rather can be called good tips regarding market leader who is new to the profession and dreaming to become a market leader in future. A market leader must be sincere, honest and efficient, must have right knowledge to handle quality customers and communicate with other renowned businessmen. The suggestions are quite good, moreover i like to add that being a market leader, one have to secure its own position and must be concerned about their rivals.

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  19. Hi.. This is a real good article for rising businessman. They will get an idea as to how to bring a product successfully into market and how to maintain the quality in order to be in the competition. Good job done by the author.

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  20. According to me if you want to be a leader of the market , you need to consider two facts, one make your product superior, increase your brand power. Second, corrupt others product quality. Though this is wrong, but this is a way. Nice article I'm fascinated with the Beat The Competition paragraph.

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  21. Indeed you need a lot more then inspiration, if you want to become a successful market leader you need to have a desire to win and strong personality. Everything that you have might be in plus. This article gave us the first step which is most important, now it's our turn to continue it depends only on us.

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  22. Market leadership is akin to personal leadership and is reached at through unique selling points. Anyway, a good write-up on the topic.

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  23. This is a great article with some very good points. I must say that personally, customer service has to be my number one pick for what makes a good industry leader for almost any product. After all, no matter how good a product is, if the support is not good or the customer service reps have an attitude or anything like that, it makes the entire company look bad and makes some angry customers!

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  24. Being a leader in the industry indeed requires a ton of work. It does not just happen overnight. But above all, you need to be consistent in what you do because that is how you are able to build the brand.

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  25. These is so much competition for all products and services in todays world that to be a Market Leader you need to have a very special product with a very special edge. You also need a great team of people to make anything happen. This was an nice article, but not terribly informative.

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