Ford Motor Company Marketing Strategy
Ford Motor Company is one of the world’s largest producers of cars and trucks and one of the largest providers of automotive financial services marketing vehicles under the eight brands shown below. The Company is a publicly traded company listed on the New York Stock Exchange. During 2002, the company made 6.7 million vehicles and employed 328,000 people worldwide. Business partners include 25,000 dealers and more than 10,000 suppliers.
Ford motor company offers a wealth of variety to the automotive consumer. As they start their second century of business, they are now in a position to appeal to the widest range of potential customers. Each of their automotive brands has a unique personality
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Now all car companies work very hard to find out what people really want from cars, and they try to build cars to fit the preferences. Market research uses all the same empirical tools as experimental psychology, but with larger research budgets, better-defined questions, more representative samples of people, and more impact. Ideally, marketing’s empiricism works like Rogerian psychotherapy: it holds up a mirror to ourselves, reflecting our beliefs and desires so we can recognize, remember, evaluate, and transform them.
Ford Motor Company is undergoing a transformation that is putting their customers at the center of everything they do. Their vision is to be the world’s leading consumer company for automotive products and services. That requires a much different headset than that of a traditional automobile manufacturer—one that concentrates intensely on the people who buy and use their products. Obviously, they had had a pretty good idea of what their customers wanted in the past, or we wouldn’t be approaching our 100th anniversary.
For nearly a century, Ford Motor Company has worked to improve people’s lives and be a responsible and valuable member of the community. In recent years, they have expanded and accelerated their corporate citizenship efforts, and worked to integrate them into their overall business strategy.
But today’s customer—and today’s competition—requires a deeper level of understanding. Traditional market research is fine,
Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim
Ford has improved overall quality and enhanced their brand reputation/recognition. In a 2011 Consumer Reports Survey, Ford scored 144 points, taking 2nd to Toyota with 147 points, which analysts call a “dead heat” score. The survey was based on “safety, quality, value, performance, design/style, technology/innovation, and environmentally friendly/green” (Associated Press 2011). Ford is on the right track and is gaining customer loyalty while increasing market share, which is a winning economic equation.
Ford Motor Company, American automotive corporation founded in 1903 by Henry Ford and 11 associate investors. (htt28) It is the multinational corporation and the world's third largest automaker based on worldwide vehicle sales. The Company operates in two segments: Automotive and Financial Services. Automotive includes Ford North America, Ford South America, Ford Europe, and Ford Asia Pacific Africa region. Financial services include Ford Motor Credit Company and Other Financial Service. The Company manufactures or distributes automobiles across six continents. Its automotive brands include Ford and Lincoln. Other Financial Services includes a range of businesses, including holding companies and real
Ford Motor Company, a global automotive industry leader based in Dearborn, Michigan, manufactures or distributes automobiles across six continents. It is a publicly traded company on the New York Stock Exchange. The Company has about 198,000 employees and 90 plants worldwide with the automotive brands include Ford and Lincoln. The Company also provides financial services through Ford Motor Credit Company. The revenue of the company is $136.26 billion with a net income of $20.21 billion by 2011.
Ford has many types of human resources and work arrangements, and all the employees together create a skilled and motivated team aligned around the objectives of Ford (Supporting One Ford - Sustainability Report 2013/14 - Ford Motor Company, 2017).
Ford has a very strong brand name and offers wide range of cars like automobiles, commercial vehicles, luxury vehicles etc. they also target different set of customers.
Rugged, stylish, comfortable, economic, and most of all, dependable. The Ford F-150 is the pickup truck that changed the nation. From its very beginning, the Ford truck has taken care of its owner’s necessities from hauling hay to visiting family and friends. Since its inception, the Ford Motor Company (FMC) has earned the loyalty of its customers. Most of all, the ford pickup truck has earned the respect of farmers, families, and businessmen alike. How did the FMC earn the loyalty of the people? By creating the highest value possible for its customers. Ford provided the most reliable and economical vehicle in its time.
"Trust our company, love our brands and delight in our services." This is the theme of Ford's global brand strategy. Ford's approach to brand marketing is that of six distinctive vehicle brands and four distinctive service brands. Among these vehicle brands are Mercury, Lincoln, Ford, Jaguar, Aston Martin, Mazda, and soon Volvo. With several different brands under the name Ford a number of products with an overwhelming set of characteristics has been developed. These strong brand names, along with unique models within each brand assist Ford to build long-term, sustainable links to customers throughout the world. (For a listing of Ford models, see appendix.) People automatically associate certain nameplates to Ford, such as the Mustang, Thunderbird, and the ever popular Taurus. The brand characteristic of a Ford truck is "Built Ford Tough," while the characteristics of a sport utility vehicle is ,"go anywhere, do anything, practical adventure." The Jaguar XJR is another example of a unique brand of Ford. There are no others like it on the market today. The XJR is targeted at those customers who are looking for that extravagant "muscle" car. All of these sub-brands share the same global promise of the Ford Motor Company.
Ford Motor Company is an American automaker, it is the world's fifth largest automaker based on worldwide vehicle sales. Its headquarters are based in Dearborn, Michigan, which is a suburb in Detroit. Henry Ford founded Ford Motor Company on June 16, 1903 and it became one of the largest and most profitable companies in the world, as well as being one of the few to survive the Great Depression. Ford Company is the largest family-controlled company in the world; it has been in continuous family power for over 110
Ford’s vision statement, “people working together as a lean, global enterprise for automotive leadership” (Thompson, 2015) has three major points that surrounds the vision statement; which are global leadership, emphasis on stakeholders, and lean business (Thompson, 2015). Each area is a specific point that Ford concentrates on in order to better the business. Global Leadership indicates that Ford wants to become a top player in the international market; Ford achieves Emphasis on Stakeholders through enhancing their HR policies and corporate social responsibility strategies for employees, customers, investors, and others; and Lean Business which they have
Ford Motor Company is an American automobile manufacturer founded and headquartered in Dearborn, Michigan but incorporated in the state of Delaware. The company was started by Henry Ford in 1903 and is historically famous for the creation and implementation of the assembly line in manufacturing processes. Ford’s mission is to produce and sell automobiles – cars, trucks, SUVs, etc – from the ones initially designed and engineered by Henry Ford all the way through the newer versions created in the last few years. (Profitable Growth for All, 2012)
Objectives |Metric |2009 |2010 |2011 |Target | |Customer Satisfaction |Global Quality Research System customer satisfaction (3 months in service), percent satisfied1 |n/a |n/a |68 |75 | |Value to Customers |Ford U.S. fleet fuel economy, combined car and truck, miles per gallon (higher mpg reflects improvement) |27.1 |26.9 |27.8 |>30 | |Quality/Safety |Percent of Nameplates Achieving IIHS Top Safety Pick by Manufacturer |n/a2 |52% - for 2011 models |75% - for 2012 models |80% for 2013 models | |
Ford Motor Company is considered a global automotive industry leader. Ford was able to reinvent themselves to be able to stay ahead of the economic downturns. Ford has continually improved their overall profit and recently started paying
Creation, acceleration and emotion are the key components for any automobile industry to deliver its goods to the expected standards. General Motors, popularly known as GM has been a pioneer in the global autoindustry for more than 100 years. Developing from horseless carriages to the latest sports cars, innovations have always excelled at putting the world on wheels. In fact, there are a lot of exciting things to share about the company. GM’s corporation started in 1892 by R.E. Olds, with a solid financial foundation, which enabled him to produce great vehicles for customers and build a bright future for employees, partners and shareholders. GM slowly initiated its staff of experts in the factories which are located in different parts of the globe and acquired the brands like Chevrolet, Pointiac, GMC, Buick, Cadillac(General Motors Corporation, 2015). Leading the way is their tailored leadership team who set high standards for the company so that they can produce the best cars and trucks. This means that GM is committed to deliver vehicles with compelling designs, flawless quality and reliability, leading safety, fuel economy and commercial features. All are intended to create that special bond that can only happen between a driver and a vehicle. General Motors is a customer driven company and aims at earning customers
Ford has two unique ways to protect its market share. Ford has a renting car system which you can rent a car rather than buying a care. According to Penn Schoen Berland, an independent research company, one third of millennial has interest to rent a car rather than buy a car. In renting system, Ford adopts one way journey system which you “pay as you go” and “you pay how much miles you go.” Another unique system is Ford Credit which Ford offer credit card to customers. Ford Credit helps Youngers to rent a car or lease a car from Ford.