What are the marketing strategies to be adopted by Market Followers in order to withstand and compete with Market Leaders ?

1. Adapter: where followers adapt market leaders approaches (Strategy, Product, Policy, Quality,...). Good followers may become leaders if they can adapt, learn and improve what the adapted from market leaders.

2. Imitation: Imitators make use of market leaders' brands equity and give a product which has the same characteristics as that of the market leader. The difference might be that the new product is made from poor material or that it does not have the service or promise that your brand can offer. That's why it is offered at lower price.

Imitation is the best form of flattery. But such a flattery can cause a huge dent in the profit margins of market leaders especially if they are product manufacturer. 

3. Cloner: It is making the same product as that of a market leader, but with very subtle difference. Cloning makes advantage of the top brands and makes same to same products. An example of cloning is making a watch called Kasio, which is a clone of Casio watches. 

4. Counterfeiter: The best example of counterfeiting is selling the originals via piracy. The best example is DVD's and CD's of music or movies.

All the Normal marketing strategies will have to be implemented and there is no separate strategies to counter market leaders or market followers. On the whole both are considered as competitors. This is my opinion.

The four follower strategies are as given below:

1. Counterfeiter: Copies the leader’s product and packages and sells it on the black market.

2. Cloner: Copies the leader’s products as it is as well as name, packaging with slight variations.

3. Imitator: Copies some of the things from leader’s product but maintains difference in packaging, and other factors.

4. Adaptor: Launches improved products over that of the innovator’s.

If the company have resources then the best strategy is diversification by developing new products and identifying new markets. 

Get fresh market rating of companies and go with the strategies you are going but double them in utilizing and utilize these strategies at the level where no body can imagine it.

Agreed to all