Ford Motor Company Essay
This paper is about Ford Motor Company. Ford Motor Company has managed to stay ahead of their competitors, GM and Chrysler. In spite of the hike in the gas prices, the slump in the economy, and the housing fiasco, they have managed to survive in this tough economy. The strategies Ford Motor Company uses to conduct business consist of consumer focus, creativity, resourcefulness, and entrepreneurial spirit. Ford Motor Company is a leader in environmental responsibility and they strive to make a positive contribution to society (Ford.com 2010). Ford Motor Company strives to improve in everything it does, which in turn provides superior returns to stakeholders. Ford Motor Company research and technology goes behind every single …show more content…
Some of Ford’s product is in the decline stage of their product life cycles, because the company had a difficult month in June, 2009 and the company saw its sales decline 11% from a year earlier. Ford's sales were down 24 percent in May and 37 percent for the first five months of the year. Due to both the economy and financial crisis, credit availability has contributed to drastic decline in vehicle sales. Over 60% of banks have tightened standards for consumer credit, making it very difficult for consumers to secure loans (Bunkley, 2009). Ford’s F-150 is in the maturity stage and steady growing.
Ford is revamping their marketing strategy by adding value to their existing vehicles and increasing consumers’ knowledge of their new vehicles. Ford is particularly focused on improving consumers' awareness of the Company's excellent quality, fuel efficiency, safety and