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MARKETING MIX OF FORD MOTORS
September 14, 2017
Table of Contents
Summary of Previous Assignment: 2
Executive Summary:
Fords’ marketing mix supports the company’s capability to get in touch with its target customers. In this case company’s target market is highly diverse and reach with the global economy. Ford is 5th largest automobile company in the world and fifth largest automobile company in Australia too. With this much popularity, it is much essential to maintain comprehensive marketing. Marketing Mix and all the strategic marketing used to change from time to time and actual market scenario. (Webster, 1998)
Summary of Previous Assignment:
In a previous assignment, we discussed the Target marketing segment of Ford, in which we mentioned how the evaluation of relevant segment of the market helps in determining the market industry segment by Ford. Internal and External factors that affect the behavior of buyer and how a buyer reacts and take a decision. (Church, 2014)
Marketing Mix:
The company offer variety of products to the consumers and here Ford’s output will be discussed. Here are the product lines of the company: (Papasolomou, 2016)
- Truck
- Bus
- Tractors
- Automobiles
- Auto Parts
- Financial Services
- Leasing of Vehicles
The company is mainly popular for its cars, especially in sedan versions. Ford has also applied Marketing Mix on its trucks, buses, and tractors. Automotive Spares is also available through Ford’s Motorcraft brand that includes spare parts of almost all the Ford vehicles as well as other company's vehicles like Toyota. Financial benefits are offered to consumers from Ford Motor Credit Agency. Lease of vehicles to a corporate client is also offered by Ford. Hence in Market Mix of Ford diversity of its product could be found.
Product Strategy:
Product Life Cycle
Product life cycle means a life cycle in which a new product goes through the process of introduction, growth, maturity, and decline. This has a direct impact on Marketing strategy and Mix. (Yang, 2014)
Ford Company uses LCA (Life Cycle Assessment) in its PLC strategy. It is a tool which helps the company in identification and measurement of the environmental effects of the services and the products. Here is the figure which will make it easier to understand.
Do you know that Ford Motor called 600 employees from all over the world for a weekly meeting to build a new branding strategy?
Go further is Ford's branding strategy name and according to it the trust of the customer is won by integrity instead of advertising hype. It means if you honest and has a strong moral principle you will definitely be able to win the customer's trust. (Barnes, 2015)
Ford Company believes in Optimizing Packaging technique.
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