Well, ignoring is not the best solution. People say reacting is not a good solution, but if you react accordingly (with back up measures like sympathetic teachers) as in with overwhelming power (and if you are not confident on attacking the group, hit each one individually when they are alone, or if you belong to a similar minded group, surround an individual and get them- use their tactics on them)
Bullies know only the language they speak (mostly violence) so if you give them enough violence they will break. The best is to essentially break their reputation and pride. With violence, make them cry in front of their peers. Make them beg for mercy (as in, stop, stop, help me, or something along that line). Photoshopped image of them being anally raped or something along that line (make sure the whole peer group knows, or if you can, get a teacher to comment that such sexual exploit is unacceptable and taints the reputation of the school- that was SOOO funny....). Another is to hide a tape recorder (or if you can get help, video the whole escapade) and let them beat you to a pulp. Promptly go to the nearest possible authority and watch it take off from there.
Essentially, if they want to make your life in school (or any other establishment) miserable, make sure that you make their life in TOTAL miserable.
I might get arrested for saying this, but if they commit suicide (did not happen to me though- one must know when to stop also) I heard that one person during a funeral just went about how much that person tormented him (usually his peer group will be there) and 'twisted the knife' unto the end. Then went on to point those who are attending, about how much they tormented him etc. and finally rounded off by saying how glad he was that the bully was dead, and was tormented also Well well, touche it was.
Those people who go on rampages because they could not take the bullying any more? Well, that is not the solution. The solution is to get the bullies to feel the same torment (as they will not be used to it, their mental strength is actually less than those who are bullied) and if you really wanted them dead (hypothetically), you make them die with their own hands. (These bullies still like a flourish at the end, so if you REALLY were able to make them commit suicide, make sure you end the whole thing also as you would have liked to. Laugh at their face as they die. Call that person a coward, and mention the fact that you faced similar torments but still were able to live.) Well, I think this sums up the 'Nerd's Revenge'.
(Aside from real life examples, things regarding suicides, a.k.a 4th paragraph onwards are all hypothetical theories on revenge, and I hold no responsbility if any events similar does occur)
Long live Japan, and down with the DPJ.