Big Versus Small - in spending for a Marketing Program!
Challenger Brands are companies of any size or industry that are either being outspent by larger competitors, are new to an industry, compete in large or cluttered markets or for any reason, find that their current marketing resources are not enough to generate the results they seek.
Every industry is loaded with Challenger Brands that are trying to compete directly against larger, financially stronger and more established brands. Many of these Challenger Brands have superior products, provide exceptional solutions and offer a more cost effective alternative than their larger competitors. But at the end of the day, if a Challenger Brand can’t get their message in front of the right target audience in a way that is credible and believable, chances are they will fail.
Just because you are up against larger competitors, does not mean that you can’t be extremely effective at marketing. The typical mistake most Challenger Brands make is that they develop traditional marketing strategies. Traditional marketing strategies are tried and true, but they only work if you have the marketing budgets to sustain these programs at a high level over a long period of time.