The Main Competitors of the Ford Company - Assignment Example

International Marketing The main competitors The main competitors of the Ford Company are General Motors and Chrysler. In America the main competitor of the Ford mustang is the first generation of Dodge Challenger, AMC Javelin, Pontiac Firebird, Chevrolet Camaro and the Plymouth Barracuda manufactured by Chrysler Motor Corporation and General Motors. The Ford Mustang is available in several models starting from the basic range model to the augmented model. In keeping up with competitions and the changing market economies all over the world GM have currently invented retro Camaro in a bid to capture imagination of permanent and potential customers a. Ford also re-vamped its Mustang in an attempt to keep pace with its competitors, while Chrysler has been plying its retro Charger, trying to entice a younger audience to join the ranks of Chrysler customers. The three corporations have also created a global online platform for exchange by suppliers and original equipment manufacturers. General Motors possess the strength in their global awareness and presence in todays market. They have manufacturing operations in 32 countries and its vehicles are sold in 192 countries and have the largest sales annually. In the global market share, General Motors has made advances in the E-Business strategy and technology for the Asian automotive industry and made it a opportunity for the company. It has put I place the strategy of producing a higher percentage of cars rather tha their usual trucks.GM has also opened retail stores that sell commodities like miniature models of General Motors manufactured cars and racing cars among others. The Chrysler Corporation covers many well-known brands such as the Dodge, Chrysler, Mercedes Benz, and Jeep. All these are well recognized around the world. The company a large worldwide presence through its many partnerships with various brands globally like Daimler and Mitsubishi .these allow for more product exposure. Its strategies are incorporated in its objectives that are global presence, Strong Brands, Broad product range, and Technology leadership. In India, General Motors India Limited have received 3 safety awards for its plants and has been applauded for being the first car manufacturer to embrace the green thing which is engulfing the automotive world with the manufacturing of the Chevrolet. However, the real rivals of the Ford in India in the sports car arena include Mercedes, Porsche, BMW and Audi that have already been selling sports cars in India. Even with the stiff competition The Ford Mustang will definitely earn fortunes for Ford India in luxury, exquisite car space and speed. The India market is used to and is more receptive to Maruti, Honda and Hyundai from India and Japan. This is because the American companies always put the wrong cars prices above their rivals’ offerings and have poor service according to various surveys conducted. The ford Mustang has a competitive advantage among the people because of the popularity it has already gained all over the world as a prestigious car with solid design; stylish image and upgraded high-end technological features (Thompson and Strickland 2003). Ford Mustang has satisfied the customers want in terms its appearance, performance, and price better than its competitors have in any of their sports cars. The elegance of the mustang has been made possible by retaining the muscularity and identity of the legend and original 1960-1970s Mustang. The fact that the mustang brand needs introduction is a competitive advantage for the ford corporation. Therefore through aggressive advertising campaigns ford dealers can easily entice consumers to their products. Its strategy lies in innovation and better management. The publicity brought about through new innovation will help sales ad save cost in the long run. Price When creating a new product, the development team always has a price level in mind. Some brands create a product around a price point like the development of the Ford Mustang. This is because their consumers desire style ad luxury rather than the performance of an expensive sports car. Hence it is easily affordable to the middle class customers. The upcoming Ford Mustang is expected to be priced in the range depending upon the current import duty structure on imported cars. According to Manley, Chrysler’s head of international operations, India is an intensely competitive marketplace and pricing can be very difficult. The pricing must e appealing to the burgeoning youthful market. In America, Ford hosted various campus events in order to promote the Mustang rand among the college population. It can also promote its rand in India through road shows, trade fairs and speed competitions. Promotional activities are doe through various platforms like televisions, radios and print advertising to ensure more exposure of the product (Magill 2014). In today’s marketplace is being driven y the consumers who expect the manufacturers to meet their customers’ demands and unique tastes. For promotional services, ford mustang offers their customers an option for customizing their cars at an affordable rate. This is possible due to the supply chain relationships between car manufacturers and after the market auto-part industry (Lamb et al 2012). The Mustang has turned out to be one of the most successful and profitable cars globally. Appearance based products like sports cars are purchased o the basis of appearance and functionality. They give the consumer an exclusive lifestyle ad have a unique lifecycle characteristic. They are purchased on the basis of exclusivity and prestige and the prices are almost always exorbitant (Eakin & Faruqui 2000). Normally when launching a new product in the market customer education is needed so as to set the tone for the customer base and competitors. However in already established products there is no need for consumer education or brand discount I order to encourage sales. Here the brands are in intense competition and the customers shop on price because the products are almost similar. The competition between brands leads to innovation I products hence benefiting the customer. The sale strategy of constantly bombarding the consumers with the brand name also works favorably for the product this is done though numerous advertising, branding and promotions (Eakin & Faruqui 2000). References Eakin, K., & Faruqui, A. (2000). Pricing in competitive electricity markets. Boston [u.a.: Kluwer Acad. Publ. Lamb, C. W., Hair, J. F., & McDaniel, C. D. (2012). Essentials of marketing. Mason, Ohio: South-Western Cengage Learning. Magill, .F. (2014). Chron 20c Hist Bus Comer, Volume 2. Routledge. Thompson, A., Strictland. (2003).Strategic Management: Concepts and Cases. Mcgraw-Hill College. Read More