Ford Motor Company
This report will be looking at the Ford Motor Company. It will discuss industrial and company background by analyzing the automobile industry, Ford’s financial performance over the past five years, and the corporate values of the company. The marketing strategy of the company will be discussed in detail, while also identifying any external factors that affect Ford’s marketing plan. Ford’s main competitors will be analyzed in order to compare their marketing strategies with that of Ford. The effectiveness of the company and its marketing will then be determined. After taking this information into account, suggestions will be made in order to improve the marketing strategy of the company.
Ford Motor Company started on June 16, 1903, when Henry Ford founded the automobile company. He was a pioneer that started what was to become one of the world's largest corporations. Ford is one of the world’s oldest automobile manufacturers that had to develop many new ideas throughout its existence in order to adapt to changing times. Ford is most well known for introducing the first moving assembly line in 1913. It was used first on the Model T and significantly reduced assembly time. This contributed to the fact that Ford was producing 50% of all cars in the U.S at the end of 1913. To stress even further the importance of the assembly line, during World War 2 the assembly line was put to use on bomber planes. They were able to produce one bomber every hour, which heavily contributed to giving the allies an advantage. In 1922, Ford purchased the Lincoln Motor Company in order to appeal to the luxury market. Mercury was later formed by Ford in 1939 to produce middle class cars but was soon combined with Lincoln in 1945.
Ford Motor Company's most significant contribution to automotive manufacturing was the assembly line. It was first utilized at the Highland Park plant in 1913. The new...