Firms that are second, third or lower in an industry are sometimes quite large, such as Colgate, Fiat, Toyota, Roche, Sandoz, HSBC (Hong Kong and Shanghai Banking Corp.), Carlsberg and PepsiCo. These runner-up firms can adopt one of two competitive strategies: they can attack the leader arid other competitors in an aggressive hid for more market share (market challengers): or they can play along with competitors and not rock the boat (market followers). We now look at competitive strategies for market challengers.
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