Ford Develops a Strategy for Competitive Advantage
I. Statement of the Problem
What marketing strategy is needed to have a competitive advantage for Ford Motor Company?
II. Background of the Problem
Henry Ford founded the Ford Motor Company in 1903. It was one of the world’s most profitable corporations. In recent years however, Ford have not fared well because of the recession and maybe their consumers were not satisfied. In 2009, Ford faced declining sales of 23.4 percent, a change in leadership and a great possibility that it would have to file bankruptcy like other automakers such as General Motors and Chrysler. Under a new leadership, Ford embarked on a new strategy by reducing costs, placing emphasis on trendy car models and closing 16 factorie.
III. Objectives of the Study * The company should know what to do to increase sales. * To know how to improve the company.
IV. Problem Analysis
Strength: * Ford Motor Company ranked as one of the world’s most profitable corporations. * Ford is the first of its kind to implement a global strategy. * Ford is the only major auto manufacturer not to have gone into bankcruptcy.
Weaknesses: * The sales are not big enough * Unclear pricing of their new cars and trucks.
Opportunities: * Implement a global strategy. * Offer smaller, fuel-efficient cars to the Chinese and Indian markets. * Create hybrid cars. * Offer a pop-up store that will interact with their female consumers.
Threats:
* Fewer sales because of the recession. * Many competitors (like Toyota)
V. Alternative Courses of Action
Plan A: Make Green Cars. Due to the increased emphasis of the government and other organizations on the production of eco-friendly cars, it has become important for every car maker to introduce the cars which are more fuel efficient and emit less smoke without causing harm to the environment.
Advantage: The company will gain competitive advantage and can gain more attraction from potential
What marketing strategy is needed to have a competitive advantage for Ford Motor Company?
II. Background of the Problem
Henry Ford founded the Ford Motor Company in 1903. It was one of the world’s most profitable corporations. In recent years however, Ford have not fared well because of the recession and maybe their consumers were not satisfied. In 2009, Ford faced declining sales of 23.4 percent, a change in leadership and a great possibility that it would have to file bankruptcy like other automakers such as General Motors and Chrysler. Under a new leadership, Ford embarked on a new strategy by reducing costs, placing emphasis on trendy car models and closing 16 factorie.
III. Objectives of the Study * The company should know what to do to increase sales. * To know how to improve the company.
IV. Problem Analysis
Strength: * Ford Motor Company ranked as one of the world’s most profitable corporations. * Ford is the first of its kind to implement a global strategy. * Ford is the only major auto manufacturer not to have gone into bankcruptcy.
Weaknesses: * The sales are not big enough * Unclear pricing of their new cars and trucks.
Opportunities: * Implement a global strategy. * Offer smaller, fuel-efficient cars to the Chinese and Indian markets. * Create hybrid cars. * Offer a pop-up store that will interact with their female consumers.
Threats:
* Fewer sales because of the recession. * Many competitors (like Toyota)
V. Alternative Courses of Action
Plan A: Make Green Cars. Due to the increased emphasis of the government and other organizations on the production of eco-friendly cars, it has become important for every car maker to introduce the cars which are more fuel efficient and emit less smoke without causing harm to the environment.
Advantage: The company will gain competitive advantage and can gain more attraction from potential