Ford Case - Assignment Example

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Ford Case

Demographic circumstances The overall economy was sluggish in 1961 with many consumers having a delay in purchasing in the models that were developed in 1961 and 1962. Social circumstances There was a change in the preferences of customers and in the period, the makers were struggling to find the perfect satisfaction for the consumers. Economic circumstances There was increase in the disposable income to about 5 percent. This was in 1962. There was severe price overlap in the period. Political circumstances There was change in management of the organization with Lee Iacocca becoming Division manager in 1960. There was election of Kennedy as the president. Competitors of the target market The competitors of the target market include Chevrolets, Fords, and Plymouths. There were also bringing out of Pontiacs, Buicks, and Dodges. Needs from the competitors The needs that were figured out from the competitors were the target market that needed the cars. The growth of two-car families was an optimistic factor that was also realized. Development of products Features: the car was compact. The car also had a six-cylinder engine and transmission to the power. Brand name: Mustang Design: sports car Quality level: developed from the existing model Setting of price The price of the car was set at 2368 dollars. There price was set through inviting 52 couples to view the model and quote a price. Keeping the price low The development was kept low through using the models that had been earlier developed. ...Show more

Summary

Customers The main customers of the company were the youth. Most of those that preferred the company’s car were those in the age between 15 to 24 years. This constituted the vibrant and growing market segment…
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