Introduction to Ford
Ford Motor Company is a century old company that laid the foundation for American auto makers (Wikipedia, 2011). Henry Ford understood early on that to be successful his company would need to be self reliant; from that idea the assembly line was introduced. Ford now offers a variety of vehicles from cars and trucks to ambulances, buses, and tractors. Today, consumers have hundreds of options to choose from when selecting a vehicle from any one of the major players in the auto industry. To keep their company competitive, Ford has use a combination of extremely effective promotional tactics.
Ford’s Consumer Oriented Sale Promotions
Rebates are a reduction in the amount to be paid or a return of a paid amount on a product. Ford offers rebates on many of its models which are beneficial to the customer as well as the dealer. Rebates can be offered on models that may not be selling way, on overstocked models, or on models that have a newer model coming into the market in the near future. Larger rebates are often offered to customers purchasing new cars that were previous year models. Rebates offer dealers a way to manage their inventory effectively by giving the consumer incentive to buy.
Premiums are items that are given free with the purchase of another product. Some of the most popular premiums that Ford offers are free Sirius radio for 6 months, upgrades to rubber weather floor mats, gas cards, and free oil changes. Each of these is offered as an additional bonus to the customer for doing business with Ford, and premiums can go a long way in establishing brand loyalty. Premiums are a win/win for Ford and its customers: People like to get free things and compared to the price of a vehicle, a $50 gift card or $29 oil changes is a small price to pay to keep customers happy.
Contest and Sweep Stakes
Many of us have received a key in the mail with an announcement that your key may...