Ferrari selling its F8 Tributo car for about 500k+ in Australia is an example of what traditional strategy by Michael Porter?Question 15Select one:Select one:a.Cost Focusb.Differentiation Focusc.Differentiationd.Cost leadership
Question
Ferrari selling its F8 Tributo car for about 500k+ in Australia is an example of what traditional strategy by Michael Porter?Question 15Select one:Select one:a.Cost Focusb.Differentiation Focusc.Differentiationd.Cost leadership
Solution
Ferrari selling its F8 Tributo car for about 500k+ in Australia is an example of what traditional strategy by Michael Porter:
b. Differentiation Focus
Differentiation focus strategy is a hybrid of focus strategy and differentiation strategy. With focus strategy, a company chooses a small segment of the industry to focus its marketing efforts on. The segment can be a demographic or geographic segment. The company will then only compete in this small market. Differentiation focus strategy is where a company differentiates itself in the small market. This can be through design, brand image, technology, features, customer service, etc. Ferrari is a good example of a company that uses differentiation focus strategy. They focus on the high-end car market and differentiate themselves through design, brand image, and technology.
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