Describe Competition And Different Marketing Strategies

Competition
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Competition
Successful companies employ different marketing strategies, take advantage of opportunities and avoid threats. Companies compete and position themselves in each market making them be termed as either market leaders, challengers, followers and the market nicher. The soft drink industry is dominated by Coca- Cola Company who is the market leader, followed by Pepsi Company as the market challenger; Dr. Pepper Snapple is a market follower and Suntory Holdings as the market nicher (Eizenberg & Salvo, 2015). Coca-Cola is a market leader because the company focuses on new production development, price change, distribution coverage and promotional activities. Coca-Cola has a distinctive brand name (Eizenberg & Salvo, 2015).
Pepsi Company is a challenger because of its distinctive brands like mountain dew, Pepsi, Diet Pepsi and Gatorade. Pepsi's main objective is to increase its market share by attacking the market by choosing one opponent who is Coca-Cola (Steenkamp, 2017).
Dr. Pepper Snapple is a soft drink compan...