In order to gain the upper hand over their rivals and also get larger market shares, companies operating within the highly competitive dairy alternative products industry use several strategies depending on their circumstances. One such factor is product diversification, where they place various flavors or even come up with unique ingredients for their products that make them stand out from others within the same category. In addition to this, there are other essential aspects, such as branding and marketing. They communicate their brand values through advertisements, social media, and all other forms of communication, thus advertising it through television adverts and online commercials, among many other methods. Branding plays a very important role in consumer behavior regarding shopping patterns, as buyers associate themselves with brands whose goals and objectives are similar to theirs. This helps customers differentiate one company's goods or services from those offered by competitors.
Other than this, price positioning is also an important factor in market share strategies in the dairy alternative products (DAP) market. Firms, such as premium pricing for high-quality or luxury items and competitive pricing for budget-conscious consumers, can use different pricing strategies. Furthermore, distribution channels are also instrumental in the market share positioning strategies. This means that companies ensure that their products are available to customers widely and through several distribution channels such as grocery stores, supermarkets, specialty health food stores, online retailers, and food service outlets. Besides these matters, there is one more important point, i.e., innovations and product development are the key elements of market share positioning strategies in the DA market. Research and Development (R&D) initiatives aim to enable corporations to come up with new innovative products that cater to consumers' dynamic preferences and dietary trends.
Collaboration and partnerships are increasingly becoming a key strategy for companies looking to increase their market share in DAPs'. Companies collaborate with other companies, food manufacturers, or retailers to leverage synergies, access new distribution channels, or enter into new consumer demographics. There are two other factors driving market share positioning strategies: sustainability and ethical considerations in relation to DA products. Companies that wish to distinguish themselves from competitors using various sustainability practices prefer environmentally friendly sourcing techniques together with ethically sound production approaches as well as transparent supply chains so that they can attract eco-aware customers who prefer acquiring such types of commodities because this type of customer base is rapidly growing today. In addition, by prioritizing sustainability and ethical values, companies may gain a competitive edge over rivals because they will have built confidence among their clients, hence increasing their shares.
