Henry Ford Developed His Model T, a Car He Felt

question 13

Multiple Choice

Henry Ford developed his Model T, a car he felt would satisfy the needs of everyone. Ford said, "They can have it in any colour, as long as it's black." His strategy was Simple: focus in the economies of scale created by mass production. Ford's strategy was also known as a:

• A)focused marketing strategy.
• B)niche marketing strategy.
• C)mass marketing strategy.
• D)segmented strategy.

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Definitions:

Tacit

Knowledge or understanding that is implied or understood without being stated openly, often acquired through experience rather than formal instruction.

Verbal

Pertaining to words and the use of words in communication, both spoken and written.

Creative Ability

Creative ability refers to the capacity to generate innovative ideas, solutions, or artistic expressions, which are novel and valuable.

Inborn Trait

A characteristic or ability that an individual possesses naturally from birth, not acquired through learning.