Few established Brands have been motivating consumers emotionally thus have become personified. MBA aspirants are expected to know the success story of brands.
This general awareness article on a growth story of ‘Ford’ might help you know the journey of success.
Ford is a popular name when it comes to automaker companies. The brand has it braches spread all over the world and is a leader among automobile manufacturers. Ford Motor Company better known as simple Ford produces the best cars and trucks under its name.
Founded by Henry Ford, the company got established on 16 June, 1903. Ford has been pleasing customers of all strata with its wide range of cars and commercial vehicles. The brand has everything from luxurious cars under the Lincoln brand to economy and commercial vehicles under Ford brand. The constant innovation of designs and technology keeping in mind the currents demands and desires of its customers has enabled it to build a strong rapport among target market.
Source: The truth about cars
Key Strategy of Ford:
Ford Motor Company has carefully examined the needs of customers and derived its marketing strategies accordingly.
• Ford Mission statement and goal has always been one Ford, one team, one plan and one goal. The statement clearly signifies that the brand believes in establishing itself as a brand that has a team dedicated to single goal of delivering high performance vehicles to its customers.
• Ford has also been a brand that is very well established strong relationship with the communities it serves. The brand has been involved in campaigns like ‘breast cancer awareness campaigns’.
• The brand also endeavors to be as protective of nature as possible with its efforts of making fuel efficient cars, electric vehicles, donations and Ford raiser programs for environmental protection.
• Due to its worldwide presence the company has strong brand recall and reputation. It also gives them edge over other competitors because they can very well determine the needs of different market segment and manufacture efficient vehicles accordingly.
• The biggest strength of the brand is its unmatched technology and designs that has helped the company to develop a strong portfolio of quality products.
• Ford’s marketing and advertising tactics involves everything from promotions on social media platforms like twitter, blogs, flickr, press releases, television commercials etc.
• Ford has a very strong rapport with its employees, suppliers, dealers etc that helps him to stay focused on its mission statement of ‘One Ford’.
• Ford’s most popular vehicles include Land Rover, Lincoln, Aston Martin, Volvo etc.
• Ford has cars for every customer. It has luxurious cars as well as mid-size cars to cater needs of every customer. Some of the popular mid-range cars include Ford Figo, Ford Fusion etc.
Ford has been an age old company that has gathered the trust and loyalty of customers all over the world. The multinational automaker has proved to be innovative and efficient when it comes to vehicle needs of its customers.
The company has been sensitive to its community and has been involved in events that are held in favor of the community. The company tries to view their business from consumer’s prospective to come up with products and services that are full worth in terms of money, comfort and luxury.