...Marketing Plan: Phase II Stacie Bradley, Joshua Czygan, Teresa Flores, Michael Lucas, Shemika Savage Marketing 421 April 29, 2012 John Brady University of Phoenix Ford Motor Company has been a fierce competitor in the auto industry and is emerging into a new market of complete electric transportation. In doing so the company must identify the target market and the needed segmentation criteria to do so. The organization should take into account, the different types of consumers of the Ford Pure EV, the influences of these consumers, and their competitors. Identification of Target Market and Segmentation Criteria Market segmentation for the Ford Pure EV will define the possible target markets for the intended consumers. Market segmentation is defined as “a two-step process of naming broad market-products, and segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.” (Perreault et. al., 2011). Market segmentation will allow The Ford Motor Company to identify the needs of consumers, develop a marketing mix, and identify the target of each segment. The criteria for segmenting a broad-product market should include “homogeneous, heterogeneous, substantial, and operational markets” (Perreault et. al., 2011). The demographics of potential customer play a vital role in market segmentation. Some important demographic dimensions include criteria such as age, sex, income, location, and family size. Additionally, the process...
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...30, 2014 Duane Scott Formulation of the Research Problem The history of Ford Motor Company was invented on superior brand products, which to this day, still exist. Ford is an American automaker, and the 5th largest automaker, according to worldwide vehicle sales. Ford has an immaculate line of vehicles, ranging from cars and trucks, which are among the best selling vehicles in the world. Ford has one of the strongest product lines ever, and based on consistent and continued strong sales, their demand keeps coming, and the Ford brand continues to get stronger. How does Ford and similar companies get their brand out there? In January 2014, Ford made a large financial commitment on digital advertising; Ford is mandating dealers to place more advertising co-op toward digital advertising, such as paid search and banner ads (Barkholz, 2014). Ford has placed lots of focus on relationship building, and growing as an industry leader in the automotive world. Ford continues to place special emphasis on changing the behaviors, attitudes, culture, and ideology of the organization, to ensure Ford Motors has the best interest of the consumer at all times. Over the years, Ford has learned the importance of seeing the business from the perspective of the customer, which should result in improved services, and new businesses from new consumers (Collier, 1987). Ford Motor Company launched its online marketing plan involving use of digital platform to engage its customers in 2008. The company...
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...Marketing Ricky Farmer MKT/421 5/16/12 Lawerence Kirsch Marketing Marketing is constantly around us in our everyday lives. Marketing can be seen on the television through commercials while watching a favorite show with your family or enjoying a sporting event with your friends. It can be seen on the side of buses, billboards, benches and human beings are sometimes walking marketing devices. One of the biggest marketing days in America is the Superbowl. Society does not see the underlined meaning behind the little corky commercials that we love so well. All that is being seen is that they are funny or unique and that they make us laugh. The marketing messages is getting across loud and clear during the Superbowl and the marketing geniuses are the puppet masters behind the scenes Marketing Defined Marketing is building a relationship with the public. There are a lot of criteria when it comes to marketing. The product or service does not miraculously fly out of the store with a billboard or commercial. Statistics, demographics and “what is trending now” play a big part in the marketing scenario. According to "AMA Marketing Power" (2012), " Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (para. 1). The above sentence covers all the aspects of marketing but there are other that just keep the...
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...Ford Focus: Environmental Analysis Exercise Introduction Henry Ford and 11 other associates established Ford Motor Company in 1903. Manufacture and distribution of their automobiles take place in 200 markets across six continents. The 2010 Ford Annual Report indicated that “throughout 2010 Ford continued market share growth in the car sector with high quality, fuel-efficient offerings bringing bold designs, multiple convenience technologies, comprehensive safety features and engaging driving dynamics” (pg. 7). In 2010, Ford had a net income of $6.6 billion, which was a $3.8 billion increase from the prior year (Ford Annual Report, 3). The 2000 model year was the first for the entry-level sedan, Ford Focus. “Focus represents the company’s highest-volume offering and production in three continents to eventually be sold in 122 markets around the world” (Ford Motor Annual Report, 2010, p. 1). Ford has directed marketing efforts for the Focus to 18- to 29-year-olds that are willing to spend roughly $13,000 to $16,000 on a vehicle. According to Edmunds.com “its affordable price, expressive styling and availability in multiple body styles have all contributed to making this one of Ford's most popular cars worldwide” (Ford Focus Review, 2011). The 2012 Focus has an MSRP of $16,500 for its 2-liter, 4-cylinder Sedan model. The Focus also comes in coupe and hatchback models. Ford has commissioned to perform an environmental scan assessing the potential demand for the Ford...
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...Products, Pricing, and Channels Introduction The all-new Mustang is the next chapter in the life of one of the world’s most iconic cars. The 2015 Ford Mustang is loaded with innovative technologies and delivers high levels of performance and style. “The Mustang is the first car to offer four, six, and eight-cylinder engines that each produces at least 300 horsepower. With more powertrain options to choose from, there is a Mustang to fit any lifestyle. The 3.7-liter V6 and upgraded 5.0-liter V8 are joined by an all-new 2.3-liter Eco Boost engine that brings state-of-the-art technology to Mustang.” (Ford, 2014) Description & Features The Mustang’s Eco Boost engine uses direct injection, variable cam timing and turbocharging to deliver plenty of usable performance across a broad RPM range. Mustang is equipped with over 300 horsepower and 270 lb.-ft. of torque on tap from the standard 3.7-liter V6, even the most accessible Mustang delivers the performance customers expect. Drivers will appreciate smoother shifts from the updated manual gearbox while a reworked automatic transmission features new steering wheel-mounted shift paddles for drivers who want the choice between convenience and control. (Ford, 2014) There are several key design features that define the all-new Mustang, including, a lower, wider stance with a reduction in roof height, and wider rear fenders and track. The return of Mustang fastback with a sleeker profile enabled by more steeply sloped windshield...
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...of way for people to connect and work together, and small and large businesses recognize that people like to keep connect with companies on a more personal level and want to feel that they are part of the conversation and not just a unknown, nameless sale. The strategy of using social media marketing is to increase and create awareness of a company brand, by helping companies connect with their customers and actively this approach create good customer relations. Marketing using social media is important in today society because customers buy from people they like, know and trust. Today businesses are learning that customers are more eager to share their positive and negative experiences on social media sites. So the more customers like and trust a business, the more credibility and authority business earns which in turn, wins companies more devoted customers. The advantage that social media marketing bring to the table for small business is the ability to cut marketing expense and still reach a large percentage of customers and potential customer by creating a free page using social media like facebook. Larger business with bigger budget also benefit from using social media marketing, because it easy and cost effective way to connect with customers. And social media allow companies to shine light on their business personality. Social media also give business opportunity for customers to become involved with their brand. This creates dedicated...
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...A. INTRODUCTION Ford Motor Company started out with Henry Ford’s passion of engineering and mechanics. Ford’s first leap into the world of automotive mechanics was in 1899 when he founded the Detroit Automobile Company, in Dearborn Michigan. It was not long after the Detroit Automobile Company failed that Ford founded the Ford Motor Company on June 16, 1903. What made Ford’s vision different from the other 87 car companies in the United States at the time was Fords understanding of the cultural impact automobiles will have on the society. Ford envisioned cars being an affordable item rather than a luxury in the near future by transforming the manufacturing process. The success of Ford Motor Company was because its’ strategy encompassed a new way of manufacturing called mass production, advancements in technology, the supply chain and most of all changes in lifestyle. Ford’s personal motto, “Help the Other Fellow”, affected his goals, work environment and the corporate strategy of the Ford Motor Company. Today’s Ford embraces all of Henry Ford’s beliefs into its current corporate strategy. Ford is known for building the everyday man’s car focusing on reliability and quality. Ford is now a leader in innovation in the automobile industry right next to BMW. Energy efficient efforts, future safety features and technology advancements are all what makes Ford, Ford; however, the cars are not all that have made Ford into the global enterprise it is today...
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...Marketing plan Student’s Name Institutional Affiliation Table of contents MARKETING PLAN – FORD MOTOR COMPANY……………………………………….4 Executive summary 4 Target market and positioning 5 Positioning strategy 5 Marketing strategies 6 Place 6 Promotion 7 Price 8 Product 9 Evaluation and control of ford motor company 10 Implementation and schedule 11 Conclusion and Recommendation ..12 Reference 13 MARKETING PLAN – FORD MOTOR COMPANY Executive summary The action of business of promoting and selling products and services is called marketing. It also entails market research and advertising. Other researchers define marketing as the communication that takes place between a seller and a buyer aimed at selling a product or service to the consumer. It involves passing information about the value of the product and encourages the consumer to buy it. Marketing is not all about advertising or selling goods or services as most people assume. It is a discipline that makes sure that those who produce services and goods can explain what the consumer likes and match each item or service with a consumer. The process of marketing is done by both small and big companies. This is because it helps in addressing critical market aspects. Marketing is the key to understanding competition in the marketplace. Ford Motor Company is an American Public Ltd company that works under the brand name of ‘Ford’. The company is a multinational corporation. It sells private cars and vehicles that are used...
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...Synopsis Ford is working to change its marketing strategy for developing compact cars. The Focus is Ford’s most popular economy car, and for years has been a low cost, reliable car. Ford is now beginning a new stage of the Focus by now offering the car with numerous additional features, resulting in a luxury car feel with the same Ford logo. With the rise in gas prices, and the current economy climate, Ford foresees a push from larger vehicles to smaller cars. This change in consumer preference stems from the superior gas mileage and reduced ecological footprint that compact cars provide. Currently, Ford markets the Ford Focus to the United States and the European market. The cars that they make for each market are different based on consumer preference. The current Ford Focus selling in the United States is more economically friendly, with the base model having a very affordable starting price. In comparison, the current Ford Focus found in the European market has additional features not found in its counterpart, but at a higher price. The 2012 Focus will have the ability to satisfy many different classes of people from its base model, the S, to the top of the line luxury found in the new the Focus Titanium trim package. By manufacturing the Focus for both the U.S. and the European market in Wayne, Michigan, Ford will save a plethora on development costs. A $28,090 price tag for a fully loaded 2012 Ford Focus sedan may discourage some consumers. However, one must consider...
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...Ford Motor Company In today’s society it is a very common theme for men, especially hardworking men, to want a truck. That being said, what better company is there for a truck or a durable vehicle to not only improve image but use as an aid in everyday working conditions than Ford? We think that Ford Motor Company is a very good company to investigate and research because of the solid foundation it stands on and the rich history and tradition of such an illustrious company. Ford has been at the forefront of the automobile industry for the majority of its existence. They have been a trailblazer as far as mass production, and advancements in just about every way imaginable. For these reasons and more we will be doing our dijuno project on the Ford Motor Company. We will be exploring the consumer-brand relationships, breakdown the ads (testimonials), how their product raises self-esteem, and the product as an extended self. The company mainly targets the working male who has the need for a big truck to do heavy lifting and towing. The company has the richest history of any car company in the U.S. and for that reason we will give a very in depth and concise overview of such. Ford also appeals to those who have the upmost pride and support of the U.S. Other things we will be evaluating and analyzing in our PowerPoint presentation will include the target market for different demographics, how it caters to the needs of the consumers, the strategies and tactics used to appeal to...
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...Assignment 2.1 Ford Analysis PSPR 6208 Strategic Marketing and Communications Fall 1 2013 1. Where would you put Ford in terms of competitive position? Why? By shifting their focus, developing a new marketing strategy and focusing on the Ford brand, Ford has dramatically enhanced their competitive position and turned things around for the company. In doing so, they strategically placed themselves back at the top in terms of competitive position. This was no small feat, especially considering the fact that they were in far worse shape than most car companies as recent as 2008 (Kotler & Armstrong pg 547). Ford with the assistance of new CEO Alan Mulally fought hard against bankruptcy and even harder to gain consumer trust in the company and the brand. This strategy has helped Ford to gain a competitive advantage, especially in terms of customer satisfaction. 2. Is Ford a market-centered company? How can it improve in this area? Considering the fact that Ford currently pays attention to both customers and competitors in designing the company’s marketing strategies, I would say they are definitely a market-centered company. This may not have always been the case, as is evident from reading the case study. At some point, Ford took its eye off the market, loosing focus, especially in regards to customer needs. I think that they were driven to shift their focus by several factors, top of mind being the dire economy. Moving forward, they will need to play...
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...Myopia is defined by Merriam –Webster dictionary as “a lack of foresight or discernment: a narrow view of something” (“what is marketing myopia?). In terms of marketing this is demonstrated by a company displaying short sightedness and an inward approach that keeps the focus on the specific needs of the business rather than its products or the customer’s satisfaction. This phenomenon can destroy companies if it is not addressed immediately. A good example of marketing myopia would be Ford Motor Company’s attempt at a car called the Ford Edsel in the late 1950’s. The vehicle was a passenger car and it was Fords marketing approach with the introduction of this car that was going to revolutionize the industry. Ford was under the impression that the vehicle would meet the driving habits and needs of many domestic consumers and families. The Edsel was released with extreme publicity from marketing company’s and also the media, however it was soon after found out that the Ford Edsel would be a complete failure within the consumer market. Many may argue that the vehicle was just not a good car and did not sell well. If you ask a business professional about this they would most likely chalk it up to the company’s failure and inability to recognize the consumers’ needs and desires or as we now know it “marketing myopia.” A second way that marketing myopia may occur is slightly different however the same unwanted failure takes place. Like the text says, “many sellers make the mistake...
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...August 25, 2013 Abstract The purpose of this paper is to evaluate the reasons social media marketing had become exceedingly popular with large businesses to entrepreneurs. To analyze the advantages and disadvantages of Social Media Marketing for business entrepreneurs; measure how Social Media Marketing is helping Pepsi gain more customer insight than it would have otherwise; measure how Social Media Marketing is helping Pepsi gain more customer insight than it would have otherwise; Research two (2) other businesses that have used Social Media Marketing to their advantage; Discuss how each of these businesses has utilized Social Media Marketing and provide examples with your discussion. Lastly, speculate what impact Social Media will have business over the next decade and identify what skills you need to improve to take advantage of the changes. 1. Evaluate the reasons Social Media Marketing has become exceedingly popular among businesses of all sizes. Social media marketing has become popular among business of all sizes. Companies use social media to expand products and services, and also to reach a larger audience. Not only will these products and services reach a domestic audience but also an international audience. Social media sites such as Facebook (www.facebook.com), Twitter (www.twitter.com), or YouTube (www.youtube.com) allow companies and entrepreneurs to market their products or services either for free or at fee based advertisement. Facebook is a global...
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...Marketing is managing profitable customer relationships. • Product means the goods-and-services combination the company offers to the target market. Thus, a Ford Focus consists of nuts and bolts, spark plugs, pistons, headlights and thousands of other parts. Ford offers several Focus models and dozens of optional features such as self-assist parking. The car comes fully serviced and with a comprehensive warranty that is as much a part of the product as the tailpipe. • Price is the amount of money customers must pay to obtain the product. Ford calculates suggested retail prices that its dealers might charge for each Focus. But Ford dealers rarely charge the full sticker price. Instead, they negotiate the price with each customer, offering discounts, trade-in allowances and credit terms. These actions adjust prices for the current competitive and economic situations and bring them into line with the buyer’s perception of the car’s value. Placement logistics includes company activities that make the product available to target customers and end-consumers. Ford partners with a large body of independently owned dealerships that sell the company’s many different models. Ford selects its dealers carefully and supports them strongly. The dealers keep an inventory of Ford motor vehicles, demonstrate them to potential buyers, negotiate prices, close sales, and service the cars after the sale. • Promotion means activities that communicate the merits of the product and persuade target...
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...Henry Ford, founder of the Ford Motor Company (FMC) in 1903, followed his passion for machinery and mechanics that allows his successors to follow his footprints in building the most wonderful machine as we call it today – automobile. According to a source on FMC’s corporate website, Henry Ford’s idea for his business was about mobility, transportation and lifestyle. Within the next century, FMC has been struggling with its competitors such as Toyota Motor Corporation, General Motors Company, and Chrysler Group LLC. In addition, according to the case study “Ford Motor Company,” the author indicates that FMC has been losing money and excessively producing vehicles. 1. Describe four strategic options that help FMC increase its profitability, and list two criteria you would use to evaluate each option. The first option in the case study is to close down older plants in order to “realign” the company’s production and sales. According to the FMC corporate website, the United States has 29 plants including assembly, stamping, engine, transmission, and casting/forging aluminum. Out of the 22 other countries in which FMC operates, not one of them has more than six plants. Moreover, human labor in the United States is much more expensive than other countries; centralizing most of the plants here will increase the cost and decrease the profitability. In addition, closing down older plants requires a cost to buy out the workers. Yet, the company will end up saving more money getting rid...
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