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people of the age group 30+ as they prefer these types of vehicles whereas sports car is the choice of young people. So, ford follows a segment and make the products and provide the services according to the needs of specific target markets(Kissinger, 2017).6.Marketing ProgramFord’s marketing strategy can be defined on Four P theory that is Product, Price, Place and promotion. The explanation is as follow:Product:Ford provides different types of products which help to fulfil the demands of the consumers. For example, ford not only manufacture personal vehicles such as carsbut also make commercial vehicles such as trucks, tractors which further give the opportunity to customers to come and deal with the company.Price:Ford has two types of pricing strategy. The first is Market Oriented pricing strategy which is exclusive for sedan cars and trucks and the price varies according to market demand. Another strategy is Premium pricing strategy which is only for luxury vehicles. Apart from this, the price also varies according to the rules, regulations, tax system of a different country.
RUNNING HEAD: MARKETING PLAN OF FORD MOTORS11Place:Ford has a different manufacturing plant at different locations which help the company to boost the production and to meet the demand of the product anywherein the world. Promotion:Different promotional and advertising strategy are adopted by the company to boost awareness about different products of the company among the customers via various advertainment methods such as tv commercial, print media, social media and radio. Apart from this, ford also sponsors various sports events in orderto promote the products of the company (Ferguson, 2017).7.Financial Data and ProjectionsIn common words, financial projection considered as the prediction of the company’s revenue and expenses and that further help to decide the strategies and planning for the company. The projection can be done either quarterly or annually depends upon the company. Here is the following forecast of financial projection of Ford motors:8.OrganizationEvery Organization have a method in which the management works from top to bottom. The entire management structure is designed, and people hired and get appointed in the same way. The ford motor group have the same kind of organizational structure which have CEO position on top and go up to a clerk position in the bottom. Ford motors in
RUNNING HEAD: MARKETING PLAN OF FORD MOTORS12terrace have the same organizational structure but the top position is manager and bottom go to the mechanic or general helper. Moreover, organization structure shows different components of the company and ford’s organizational structure is best in the case of the automotive industry. 9.Implementation PlanThe implementation plan is made on behalf of different factors. Here is the following plan for various levels:1.Corporate level plan2.Business level plan3.Functional level strategy4.Global strategy10.Evaluation and ControlThe society today is changing dramatically with socialization and urbanization. Inthe same way, companies in the automobile industries are changing their strategies and