Since I mentioned in the previous blog about the 3D printer, I’m going to explain what this new technology is.  This new product is brought out by a Saskatchewan inventor, Rylan Grayston.  So far, the items the printer is able to print is very simple, but it could potentially print some complex items, such as electronics and guns in the future.

According to Porter’s Generic Strategies, it can use both differentiation and focus strategy.  With the differentiation strategy, it will be able to charge a high price due to its uniqueness as the product yields from a leading scientific research.  The focus strategy will enhance its attempt to achieve cost advantage and will attract high customer loyalty.  I strongly encourage this technology to partner up with auto companies, such as Ford, and other machinery companies as it will allow the manufacturing process to be more efficient and convenient.  I look forward to seeing this new printer’s success in the market.

(Photo credit: Purdue University photo/Mark Simons)

Resources:

“Sask. inventor’s 3D printer making waves on Kickstarter.” CTV News. 2 Oct. 2013. <http://saskatoon.ctvnews.ca/sask-inventor-s-3d-printer-making-waves-on-kickstarter-1.1481224>

Porter, Michael E., “Porter’s Generic Strategies.” Competitive Strategy: Techniques for Analyzing Industries and Competitors. QuickMBA. 2010. <http://www.quickmba.com/strategy/generic.shtml>