Ford Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Ford analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Ford marketing mix, help the brand succeed in the market. Let us start the Ford Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Ford Product Strategy:
The product strategy and mix in Ford marketing strategy can be explained as follows:
Ford offer different type of product and service to cater the demand of customer from different segments. Ford manufactures automobile, trucks, buses tractors, automotive parts and financial services. In Automobiles Ford offers various ranges of sports car, economy cars and luxury cars. The company has a wide range of cars in its portfolio, including some popular cars like Figo, Fusion, Endeavour, Fiesta and Ecosport. Ford manufactures medium duty trucks, large good vehicles, light vans.
In Ford manufactures Ford Transit passenger carrying Minibus in Europe in different sitting capacity. Ford parts and Motor craft offers spare parts recommended by the company and available in Ford and Lincoln stores, Ford’s authorized distributors and many retail and repair shops. Ford has an automotive finance division called Ford Motor Credit Company for its customers. All these put together, complete the Ford marketing mix product strategy & offerings.
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Ford Price/Pricing Strategy:
Below is the pricing strategy in Ford marketing strategy:
Ford follows mainly two types of pricing strategy i.e. market oriented & premium pricing.
Market oriented pricing strategy is for sedans and trucks, market oriented pricing is employed. This involves pricing as per market conditions such as competition, demand, consumer perception and other variables. On the other hand, premium pricing strategy is for its luxury line of products under Lincoln automobiles, Ford uses this strategy to set higher prices. Apart from these the pricing strategy in the marketing mix of Ford also includes prices of cars specific to segments, geographies, features and competitors. Depending upon the car type, features selected, the car prices can range from $25,000 and can go up to $90,000.
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Ford Place & Distribution Strategy:
Following is the distribution strategy in the Ford marketing mix:
Ford has set up its manufacturing plants at various locations around the world which helps in strengthening its wide distribution network. Mainly include four distribution channels i.e. Dealerships Ford’s dealership network represents its brand at retail as it provides direct access to the customers and plays vital role in attracting and retaining them.
Most of its products are made available through this channel and contributes to majority of the sales revenue.
Ford Promotion & Advertising Strategy:
The promotional and advertising strategy in the Ford marketing strategy is as follows:
Ford adopts very competitive promotional strategies of promoting its goods and services through almost all the conventional channels available. The main activities include in the promotional strategies under marketing mix can be elaborated as below:
Advertising: Ford promotes the goods and services through televisions, print media like magazines and newspapers and online channels. It also exhibits the products at various events and malls.
Sponsorship: Ford, with the belief of promoting its overall brand image, instead of promoting specific products, follows unique strategy of promotion through sponsorship by associating the brand image with football. Through its association with UEFA Champions league, it is able to tap the large football enthusiastic population in Europe.
Sales Promotion: Through discounts, special offers and trade-ins, the company adopts the technique of retaining the loyal customers and also to tap the potential customers.
Public relations: Various corporate social responsibility programs build a positive image for the company and portrays the company’s concern towards community and environment which extracts long term benefits for the company. Hence, this covers the entire Ford marketing strategy & mix analysis.
About Ford:
Ford Motor Company is a US based global leader in the automobile manufacturing industry operating both in commercial vehicles and private cars market. The company was established in 1903 by Henry Ford. After more than 100 years, the firm is one of the largest automobile player in the world.
Ford has around 200 market across six continents, the company earns its reputation through vehicles which provide vitality, strength, safety, quality, size, reliability, speed and passion. Ford tries to make people live better through leadership and innovation and also contribute to environmental sustainability with the aim of becoming a top company in automobile sector.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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