Ford was on a mission to develop a luxury brand that could compete with the Mercurys and Lincolns of the day.
What product managers can learn from a $3.2 billion dollar blunder
Chad Bockius

Uh…Mercury and Lincoln WERE Ford brands. The Edsel wasn’t designed to compete with them (as that would be counterproductive). The Edsel was looking for a (non-existant) market segment, above the pedestrian Ford, but somewhere around the Merc. 
That was another one of their problems…