The Toyota cars throughout the years have become very popular because they retain better resale value than other car auto makers. Toyota gained a brand value that accumulated over the years. In the 21st century other companies including some American firms like GM have caught up to Toyota in terms of innovation, but Toyota still offers superior value than most companies in the auto industry. In 2010 Toyota continued to be the market leader in global sales with 8.418 million units sold which represents an 8% sales increase in comparison with the previous year (Takahashi, 2011).
Takahashi, Y. (2011). Toyota Global Sales up 8%. Wall Street Journal. Retrieved July 7, 2011 from http://online.wsj.com/article/SB10001424052748703398504576101190281234486.html
A firm that was able to achieve market leadership using a generic strategy is Wal-Mart Corporation. Wal-Mart is the market leader in the retail industry due to the fact that the company used a generic strategy focusing on cost leadership. Wal-Mart offers the best prices across the board in the retail industry. The company has become so big that it represents the biggest corporate employer in the world with over 2.1 million employees worldwide. Wal-Mart was able to beat the competition due to its superior handling of the supply chain. Wal-Mart takes advantage of its buying power by purchasing in bulk, thus achieving economies of scale. People love to shop at Wal-Mart due to the product variety, better customer service, and better overall prices. ...