
All worldwide manufacturing industries fundamentally face the same basic key challenges. They must be competitive within the markets they operate in, which requires them to produce the best possible products within strict financial constraints, ensuring they make a profit to enable them to continue to invest in research and development to create new products.
Some worldwide manufacturing industries through choice approach this challenge by producing the best possible high-quality product with a top end price. They have a well-defined strategy of selling less units using a marketing approach to create a unique market position and a cachet around the brand. Put in simple terms, at the top end are the elite where only a limited amount of a product is manufactured with a high price tag. At the other end of the scale are the mass-produced, low-cost products with a throw away price tag by comparison.
Continue reading “An open letter to the worldwide manufacturing industries”