분야
docxFrom Cost Leadership
From Product Differentiation
assessment
-K-Mart
From Product Differentiation
assessment
-Toyota
From Cost Leadership
From Product Differentiation
assessment
-Ford(Taurus)
From Cost Leadership of 2010 Taurus SHO + internal product differentiation
assessment
-Mercedes-Benz
From Product Differentiation
assessment
K-Mart should get out of its rural markets where it is threatened by Wal-Mart, and leverage its significant urban presence to provide clothing, cosmetics, housewares, and entertainment products specifically tailored to the ethnic communities in those areas. Kmart has not been able to clearly define itself in terms of customer expectations. The addition of brand-name house ware and apparel lines has helped keep Kmart in the market. From the standpoint of differentiations, once Kmart has identified its target market, it should increase emphasis on designer-branded lines targeted to that audience and de-emphasize commodity-type offerings. From these factors, Kmart will have to offer something that differentiates itself from the other retailers in order to lure customers back.
Therefore, I think what Kmart needs to do is that defining its customer and define itself ‘clearly’. Even though Kmart has had lots of advantages, it has been unable to make its own customers, because of its untargeted market strategy and management problem. Therefore, it couldn’t make any clear success in Cost Leadership nor Product Differentiation. Since it has been clear that it is hard for it to make attainable competitive advantage with cost leadership strategy, if Kmart is to survive in the discount retail market, it must differentiate itself and leverage its strengths. I propose that for Kmart to achieve this, first, they need to simplify and narrow its basics. K-Mart needs not only to shut down its most unprofitable stores, but also develop its certain product lines in order to simplify and improve inventory management (because it is one of the main reasons that customers have left Kmart). Second, Kmart needs to get out of Wal-Mart’s way which is too successful company to beat in the low price competition. Especially, Kmart should get out of groceries. Third, Kmart need to learn from and copy Target (but not compete with). Target’s genius was in moving slightly upscale from Wal-Mart and focusing on their targeted audience which is that Kmart barely couldn’t make. Kmart needs to develop licensing agreements to provide stylish and branded products that specifically appeal to ethnic and urban consumers
Toyota
Toyota Motor Corporation is the largest motor company in Japan, and the third largest in the world. Toyota primarily conducts business in the automotive industry. It also conducts business in the finance and other industries. Its business segments are automotive operations, financial services operations and all other operations. Its automotive operations include the design, manufacture, assembly and sale of passenger cars, recreational and sport utility vehicles, minivans and trucks and related parts and accessories. Through these various businesses, Toyota has been accomplishing simultaneous cost and differentiation competitive advantage with continuous improvement.
From Cost Leadership
Toyota has been made supplier and partner relationships driving low cost advantage. A common theme across the companies that base their strategy around low cost leadership is supplier relationships. In other words they have sufficient control over in-bound supplies and logistics. Their cost effectiveness starts from the premises of their suppliers. This is very important as major costs are incurred in the inbound supply chain. An important aspect of the unique Toyota Production System is strong supplier relationships and their development. Also, Toyota has established a lead in process with lean manufacture and product development. Through product development, Toyota’s production system is reportedly the most efficient in the world. This efficiency gives Toyota a low cost strategy in the global car industry.
From Product Differentiation
At the same time Toyota has differentiated its cars from those of rivals on the basis of superior design and quality. This superiority allows the company to charge a premium price for many of its popular models such as its luxury car ‘Lexus’. Also, as a part of it, Toyota has now gained a lead in product with the Toyota Hybrid System. This gives to Toyota a luxury image people have. To make this effect bigger, from the beginning of Lexus generation, Toyota has been trying to make most effort to the firm-customer relationships. The marketing to make Lexus’ image best and it improved customer service. Therefore, even though its expensive cost, with its luxury image people are attracted. Plus, Toyota has secured it with patents, and is exploiting it directly, and through licensing and joint ventures.
My assessment
I think Toyota understands very well balance between product differentiation and cost leadership. First, it noticed the desire for personal mobility and the impact on finite resources. Therefore, it has been able to make its product development to make it efficiently and through this effort it has achieved next steps. That is, Toyota pursues a combined cost leadership a
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