STRATEGIC MARKETING BUS-7450
This paper discusses the Ford Motor Company, the mission, and keys to their success. In addition, there will be discussions centered on the current company’s market summary. This paper will examine Ford Motor Company’s SWOT analysis, the company’s strengthens, weakness, opportunities, and threats. In addition, this would also look at the automotive driving forces, that make it alluring for firms to join the industry. Finally, this paper will discuss the competition and critical issues Ford Motor Company Faces.
Ford Motor Company is a traditional American company that has started a revolution that introduced the Model T motor car, which not only changed how people got around but also had an impact on production standards and procedures. Ford has been able to withstand economic turmoil that has occurred in recent years that had forced key competitors to fail or receive government assistance. The Ford Motor Company, a Fortune 500 company, has brands that have become household names. They have looked at cashing in on trends that other American automobile manufacturers have failed to catch on. Ford is a company that operates on a global scale with key operations in emerging economies. Mission
Ford Motor Company’s mission is a global business that has an enriched and proud family heritage. Ford is committed to providing personal mobility for everyone around the world. They anticipate consumer needs and deliver outstanding products and services that improve people's lives. Keys to Ford Success
* Ford upper management decided to cut back production to match current market conditions by, dropping unprofitable and inefficient models, consolidating production lines, shutting down unprofitable factories, and streamlining their work force. * Introducing vehicles that have improved fuel-efficient in addition run on alternative fuels. * Revamping existing brands to make them more profitable. * Investing in countries that have merging economies, such as China and India. * Becoming more involved with popular racing sports, such as NASCAR, Formula One, and Rally. * Developed partnerships with Microsoft and SIRIUS to improve product features, by doing this would lead to increase domestic and international sales. Product Offering
Ford like any automobile company, offers products to service a wide range of customers in order to satisfy their needs. They offer a variety of different cars based on the need of the consumer by offering compact, mid size, full size, sports, and luxury models. They also offer a wide array of sport utility vehicles, crossovers, trucks, and vans. Some of these models also come in electric or hybrid models, however due to lack of demand, and higher production cost associated with these model, they cost considerable more than their standard model. The company also offers the ability for their consumers to customize vehicles to meet the individual preferences and needs. Microenvironment
The strategic business need to cut costs in the areas of production, improvements in distribution channels, and tailor their products to meet the needs of their consumers who are the primary drivers for this type of business market. Businesses are looking to drop capital expense costs associated with none core competencies that do not add to their competitive advantages. Companies are looking to decrease operating cost by improving their inefficiencies to streamline their production. Automobile manufacturers are looking to find other ways to cut cost to remain profitable but also to increase their market share. These solutions include moving away from traditional advertising that is costly, and utilize social networks to promote their products. Additionally, these companies are looking into improving their relationships with suppliers that have a direct impact in their production cost. Automobile...