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Describe the concepts of generic strategies

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Reference no: EM131833650

Question: Objective: Examine and describe the concepts of generic strategies for creating a competitive advantage. Introduction: Before a company pushes out a new product, research is done to find or validate the need for it, especially if it is a product that expands a company's offerings. Marketing then has to determine the strategy that will enable the success of the product. Complete this essay for a chance to demonstrate your understanding of generic strategies for creating a competitive advantage. In this particular scenario, you will illustrate how generic strategies can underscore a company's commitment to promoting high-tech electric cars in a competitive global market.

Deliverables: The essay for this lesson is required to be a minimum of 750 words that clearly demonstrate your understanding of the activity. Essays should have a clear introduction, thesis statement and conclusion, written in APA format (APAstyle.org). A minimum of three sources must be cited in-text and in the Reference list.

Activity Details:

Step 1: Read the following scenario.

Apple is rumored to be introducing an electric "mobile-device" car to the global market in 2020. They have begun hiring experts and former employees from Mercedes-Benz, Tesla and Ford. Since Apple has established its brand as a forerunner of technology, consumers and pundits have high expectations of their new, anticipated product. Apple has decided to hire you to create a marketing strategy to help Apple improve its competitive performance in regard to marketing its mobile-device car.

Step 2: Read and formulate responses. Read the following points. Using what you have learned about this lesson's objective and based on the scenario in Step 1, formulate your responses.

• Define the four generic strategies: cost leadership, product differentiation, cost focus and focused differentiation.

• Although there is limited information about the car being developed, we do know it is headed for a tight competition with Tesla. Assess Apple's options in the four generic strategies in comparison with the target competitor, Tesla.

• Analyze whether you will use all four strategies or just one and provide your reasoning.

• Describe briefly how you will position the car for markets in the United States, Europe and Japan.

Step 3: Write a paper. Write a 750-word paper that incorporates your responses to the points in Step 2 above. Please review the essay rubric prior to proceeding. Include a clear introduction, thesis statement, and conclusion.

Reference no: EM131833650

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