A generic strategy was noted to have been conceptualized by Michael Porter in the 1980s to encompass a broad, non-firm or industry specific strategy, which has been designed to gain competitive advantage through three main techniques: (1) cost leadership, (2) differentiation,…
1). Concurrently, application of the differentiation strategy means “the development of a product or service that offers unique attributes that are valued by customers and that customers perceive to be better than or different from the products of the competition” (4.2.1 What is meant by generic strategies?, 2009, p. 1). Finally, the focus strategy, also known as segmentation or niche strategy, basically means “segmenting markets and appealing to only one or a few groups of consumers or industrial buyers, to a not many select target markets. It is also called a segmentation strategy or niche strategy” (4.2.1 What is meant by generic strategies?, 2009, p. 1). After understanding the meaning of generic strategy, an existing organization in the United States that evidently established sustained market leadership by successfully leveraging a generic strategy is Ford Motor Company. Ford could be evaluated as employing the differentiation strategy which produces different models of vehicles that cater to differentiated needs and demands of the consumers.
A closer look at Ford’s foundation for organizational success emphasized their commitment “to developing great products for customers around the world” (Ford Motor Company, 2015, p. 1). Their products are classified according to cars, crossovers and SUVs, trucks and vans, as well as the Lincoln (Ford Motor Company, 2015). For the cars, for instance, the lowest price is the Ford Fiesta at $13,965 and the most expensive is the Ford Taurus at $27,055 (Ford Motor Company, 2015). In addition, the company also offers payment schemes, incentives, and other special pricing offers (Ford Motor Company, 2015). The company’s special program offers, for example, are categorized according to programs for university students and newly graduates (Study Hard, Drive Well), for persons with disabilities (Ford Mobility Motoring), and for members of the military and their families (Showing Our ...
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