The use of online technologies has also been employed

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to fight to have market shares in different market segments. The use of online technologies has also been employed as one of the strategies to deal with competition by a number of firms. This is in the context that the businesses use the internet supported web services, such as, the social media to catch up with the people from various parts of the world. Pastore (2001) also advances that the use of digital marketing has taken tall as a strategy to deal with competition challenges that face firms. Competition forces often push the firms to go beyond their host markets, and to employ digital technologies. In this regard, the recent past has seen many businesses employing technologies, such as, online marketing in displaying their products to markets, which are far beyond their local borders. The social media has also developed as one of the strategies firms are using to counter the competition forces that they face. Increased competition has made it necessary for firms to stretch their efforts beyond their local markets. In this case, firms have had to invest on technologies, and international marketing to capture new markets. Roberts and Berger (2000) explain in their article. ‘Marketing Management’ , that business success in marketing significantly depends on how the marketing strategy matches with
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COMPETITION STRATEGIES 8 the type of competition that faces a business. In this context, effective marketing strategies that work for a business are the strategies, which have been developed in response to the potential threat of competition. In this light, it becomes imperative for businesspersons to take an active role in clearly defining the strategies they would like to employ to counter the forces of competition. They go further to suggest a number of strategies that firms may employ, such as, developing innovative products, putting up competitive pricing, and promotion of the products of the company. Hoskisson and Hitt (1999) hold that for companies to be strategic competitive in the market; the consideration of diversification is of utmost significance. The technique of diversification has been very common in the world since the Sixties. Diversification is determined as a means of growing the platform of a business to accomplish enhanced development and/or decrease overall risk, which may take the way of investment strategies, which deal with new commodities, services, client sections, or regional marketplaces. Hoskisson and Hitt describe that the plan of diversification indicates assigning sources to other pursuits or possibilities. A different way to define it is an ideal management in the creation of a marketing plan. For diversification, a company must have the necessary assets such that diversification is financially possible. According to Hoskisson and Hitt (1999), organizations performing in perfectively aggressive marketplaces cannot anticipate diversification. Therefore, writers are trying to institute those organizations that spread functions in to an imperfectly aggressive industry. Present industries meet some qualifying measures of a partial competitors being an oligopolistic industry as there are only a few significant organizations.
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