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Financial Objectives
Throughout the few recent years, the Ford Company has ended fiscal years with negative profits. Despite this however, they remain strong and able to finance their operations without endangering organizational stability. Nonetheless, the past profits are not able to sustain long periods of time of losses. In this order of ideas then, the financial objectives of the managerial team at Ford can be summarized as follows:
"Finance our plan and improve our balance sheet" (Ford Motor Company 2008 Annual Report)
Increase sales to generate more revenues
Increase investments with the aim of generating sustainable revenues, not only in terms of actual revenues, but also in terms of prestige and position within the market
6. Target Markets
As it has been mentioned before, modifications have occurred in the way Ford segments its customer base. Once appealing to wealthy individuals who wanted to make a socio-economic statement, the marketing team at the modern Ford is now striving to offer its products to selected and specific target markets. The small size and fuel efficient engine cars are for instance addressed to individuals with environmental concerns. The large cars and trucks are specifically addressed to those who need them for work.
7. Positioning
Throughout the previous decades, Ford has positioned itself as the ultimate manufacturer of large and luxurious vehicles. This positioning strategy was successful in approaching the wealthy individuals, who wanted to purchase Ford vehicles in order to make a socio-economic statement. Also, the endeavor was appropriate in the times when the upkeeping of the vehicles was less costly. As international tensions amounted (mostly in the Middle East and its relationship with the United States), as the...
In this context then, it became obvious that Ford had to change its positioning strategy in order to survive in the intensifying competition. Today, the American manufacturer promotes itself as an economic entity interested in environmental stability and this is proven by the vast investments in energy research and development, as well as the actual approach to the vehicles manufactured. The company's 2008 annual report for instance revolves around the new and improved version of the Ford Fiesta, a small size and fuel efficient vehicle.
8. Conclusions
Ford has historically promoted itself as a manufacturer of large and luxurious vehicles, but changes in the macroenvironment have forced them to modify their positioning strategy. The modern organization strives to combine its traditional values with the more challenging demands of today's environment.
References:
Tippins, R., 2006, Ford's Bold New Marketing Strategy, All Business, http://www.allbusiness.com/marketing-advertising/advertising/3877648-1.html last accessed on June 29, 2009
Ford Motor Company 2008 Annual Report, Retrieved from http://www.ford.com/about-ford/investor-relations/company-reports/annual-reports on June 29, 2009
2008, Ford Rethinking Marketing Strategy for 2009 F-150, Left Lane, http://www.leftlanenews.com/ford-rethinking-marketing-strategy-for-2009-f-150.html last accessed on June 29, 2009
2009, One Ford Mission, Ford Motor Company Website, http://www.ford.com/about-ford/company-information/one-ford last accessed on June 29, 2009
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