Market Challenger
Categories: Marketing, Company Management
There used to be only Coke and Pepsi. Together, they comprised something like 93% of the market. But then an upstart drink company who "wouldn't take any rational price from PEP or KO to be bought" synthesized a new drink from cannibas, cacao, and the sweat glands of politicians. That product became a huge hit.
Who's it gonna be next year?
In sports, you have the champion and the contender. The champ is the undisputed best. But the contender represents an up-and-comer...someone who, given the chance, might be able to unseat the champ.
In business, the terminology switches to market leader and market challenger. But the dynamic remains the same. A leader represents the product or company with the biggest market share. The Cokes, Nikes, or Netflixes of the world.
Below them are the market challengers. They don't have the biggest market share, but they have a big chunk...enough to have a heavy influence on the market, and to make the leader sweat. The Pepsis, Adidases, and Hulus.