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Marketing: Industry Forecasting - Research Paper Example
Author : hanepearline
Pages 4 (1004 words)
Name Instructor Task Date Industry Forecasting The Ford vehicle is a product of a manufacturing company by the name of Ford Motor Vehicle Company, which is headquartered in Detroit, USA. The automobile industry came into being in the year 1769 with inventions in the automobiles that ran on steam engines…
In the 20th century, vehicles that used electricity came into being for a brief spell then vanished from the scene only to reappear later in the 21st century. Due to the increase in fuel prices and the need to conserve the environment, the company produces products that address these issues. The company indulges in the production of very many vehicles that use a wide range of energy sources. It also employs over 215,000 employees and has over ninety plants and manufacturing facilities around the globe (Kades, Cronley and Cline, 2010). These facilities assist the company in meeting the increasing demand for their goods and enhance the cars availability in the market. Among the macro trends that affect the industry are the continuous increases in the prices of fuel. The rise in the prices affects the purchasing behaviors of the consumers with some going for automobiles that consume less energy. The key force behind the comfort and size of an automobile is its efficiency of using energy (Birsch and Fielder, 2004). Another macro trend that greatly affects the performance of the product is the attraction of consumers to products that help in conserving their environment. ...