Marketing strategies and management plan in Ford Motor Company
In the vehicle manufacturing industries, there exist several competitors. More and comfortable brands are getting into the market. Hence, strategic management and marketing methods need to be employed to compete with the others.
Use of questionnaires, making frequent calls and providing of quality services are some of the methods employed in winning and acquiring many customers. The sector requires financial schemes, personal services, and on time delivery will assist in offering quality services.
The study will try to acquire information from the public then analyze the information to get a conclusive method to do the marketing of the ford motor company products and services. It is intended that after the study, the number of sales in the company will increase; number of potential customers will also increase while the quality of production will be upgraded.
INTRODUCTION
BACKGROUND INFORMATION
Ford Motor Company is an old firm well known for producing a high number of vehicles. The company has been in operation for 113 years. The company deals with manufacturing of automobiles, luxury vehicles, commercial vehicles, and automotive parts. It also provides services like automotive finance, vehicle leasing, and vehicle service. It is the fifth valuable automotive brand and the seventh automotive manufacturer.
The company has operated for all those years and has remained competent in the market. Car dealers and other customers have trusted this company as their supplier of vehicles and other automotive. It serves many customers world-wide with several branches of depots in almost every country in the world.
PROBLEM STATEMENT
Several vehicles manufacturing industries have risen, competing Ford Motor Company in the market. Many potential customers lack the exposure of the products and services offered by the company, while, the improvement of infrastructure in many countries have led to bulk buying of vehicles from different manufacturers.
AIM
The study is targeting to understand the strategies that the Ford Company is employing and even work on to improve so as to thrive in the market. Its stability has been excellent which might be due to the good management plans, hence, the study aim at identifying the management plan the company uses along what needs to be done to improve the management strategies.
OBJECTIVES
- To evaluate the number of sales that the company makes per year.
- Identify the pricing strategies that the company uses.
- Identify who are their potential customers
- Find out how the customers contribute to the success of the company.
- Identifying problems the company faces during operating with their customers and the staffs.
Significance of the study
The study will assist in understanding the potential markets for the company and the secret behind their continued thriving in the market. The study will help other up-coming companies that could apply similar strategies as well as help Ford improve in areas of weakness.
LITERATURE REVIEW
The company manufactures one of the most luxurious vehicles in the world, which include: Ferrari, Lincoln, Nissan and Toyota. The company has different faculties specialized in manufacturing specific vehicles
Definition of marketing
It is the process of planning, implementation, planning, pricing, promotion and distribution of products and services. Marketing ensures it satisfies requirements of the organization and that of the individual.
Marketing focus on satisfying and fulfilling consumers requirement. Societal marketing concept hold that marketing is determining the needs wants, and interest of the potential market available. It ensures it maintains the consumer’s and the society well-being. Ford Motor Company is an ideal company that has been very successful in the vehicle manufacturing sector. The company has been competing favorably with other companies, with a large number of customers acquiring complete trust of the company (Webster Jr, F.E (1992) pp 1-17).
It originated from a stable management plan which has made great impact in the current success of the company. The management ensures they favorably consider their staffs, maintain their resources and co-operate with the societies surrounding them (Laudon et al.,2011.n.p).
APPROACH AND METHODOLOGY
The procedure will involve data collection methods to identify the availability of potential customers. Both first-hand and second-hand information rely on collecting information from their clients. The methods include use of questionnaire, open ended and closed questionnaires, data collection, sampling of their products among others.
Calculation and comparison of the data collected will be compared like for example, how many saloons were purchased by customers from a particular area? How many applications were made at a given time? How many vehicles or product the company is producing at a given time?
Then analysis of the data will be carried out to come up with the best marketing strategy. The analysis will be done using the following methods: use of bar charts, pi-charts, graphs, and tabulation.
Then statistical calculations of the data will follow which will show the central tendency and measure dispersion.
SAMPLE
The study is targeted to operate for a period of 3 months. Sources of information will be the managing directors from the firm, the staff members, customers and general view from the public. A sample of twenty respondents will be chosen using the random sampling method.
The information obtained will then be computed, analyzed and presented using different formats.
EXPECTED RESULTS
The company could be using marketing strategies in the attempt to win more customers and increase customers reliability (Webster et al., 1992.pp 1-17). The following strategies might be employed:
Advertising
The company could be promoting their product from advertisements. They might be having a company’s television which apart from giving social news and information, it has been used to create awareness to the public about their products, their promotions, and services that the company is offering.
The company could also be using online advertisement, where it targets all the customers that are beyond the reach of their television advertisements. The method could enable their customers to link to their site and access any information about the company, which would improve the right company-customers relationship (Ginsberg et al.,2004.pp 79).
Personal selling
They could be using personal selling whereby customers interact directly with their clients and query for any clarification. The marketing personnel could use offers and gift hampers to attract more potential clients.
Sales promotion
The company could be attracting their customers through their several sales promotion, where they give special offers, discounts and through trading-in. They could also be providing discounts especially to those customers who engage in buying several number of products from the company and those that have operated with the company for long.
Public relation
They might have enhanced good public relation with their customers through corporate social responsibility programs which involve the company’s support of social activities around the communities surrounding the company.
MANAGEMENT
Ford Motor Company could have employed strategic management policies that have been helping in the running and ensured flexibility of the company. The management strategies helps the company to increase its productivity (Stock et al., 2001.n.p).
The management could be based on the following disciplines:
- Design of Goods and Service
They could be planning their goods and services to achieve a global consistency. The goods and services they offer could be of the highest quality. The services the offer to their customers could be swift without any delay, which improves the company efficiency in its plan to satisfy customer satisfaction.
- Quality management
They could be offering quality management where they might perform a random batch test to ensure quality.
- Process and capacity design
This management policy would support production goals and objectives they could be using the assembly line method which increases production capacity. They could be improving their ability in making new facilities which would enhance their production and the supply chain.
- Location strategy
The company and it’s branches could be located at strategic positions which are easily accessed by their customers. Strategic location would help the company to access their clients and give customers efficient services. A good location would help the company in accessing the raw materials.
DISCUSSION OF RESULTS
The study might show the company as successful in their marketing strategies and operation. It would be, due to the enormous profit the company is making per day from the sales. Also, they have several customers who operate on Ford products, and this would boost their advertisement of their products.
Meanwhile, they would be facing low customer crisis. Due to the high cost of production and strong machines the company produces, they sale their products at high prices which is a challenge to average customers. Giving services to customers would also be a challenge due to the cost the company undergoes in replacing or transporting goods for their customers.
REFERENCES
Ginsberg, J.M. and Bloom, P.N., 2004. Choosing the right green-marketing strategy. MIT Sloan
Laudon, K.C. and Laudon, J.P., 2011. Essentials of management information systems. Upper
Management Review 46, (1), p.79.
Saddle River Pearson.
Stock, J.R and Lambert, D.M.,2001. Strategic logistics management (vol. 4). Boston, MA: McGraw- Hill/Irwin
Webster Jr, F.E (1992). The changing role of marketing in the corporation. The Journal of Marketing, pp 1-17