Ford Mustang the Strength of the Mustang

Ford Mustang

The strength of the Mustang brand is that it is immediately recognizable, and iconic. Anybody anywhere near the target audience will immediately recognize the brand and know what traits the vehicle will have. While this might also stand as a weakness because the brand has distinct connotations, those connotations are not negative for those who are in the target audience. The power of the car, combined with its value, is a common feature of modern Mustang advertisements (YouTube, 2010).

One of the weaknesses of Mustang marketing, or publicity, is that the brand often must live up to its history. As noted in this clip from the British TV show Top Gear, Mustangs today are often measured against Mustangs of the past (Top Gear, 2009). This clip also reveals a couple of other weaknesses in the marketing of the Mustang. The price component is noted by the reviewers as a downfall, because it compels Ford to cut corners in the design of the vehicle. Performance is compromised in relation to power, something that could have been avoided (and indeed is on the highest-end models) had the company been willing to price the brand higher. Also noted was that the customization of the Mustang was one of its main selling points during its heyday -- protecting the price is not necessary because the best Mustang is not available at the lowest price point, and consumers often prefer to have a better car rather than a cheaper one. This creates a dilemma with the positioning of the vehicle, because while the Mustang is currently positioned as something of a low end power car, the Mustang many consumers want is perhaps a little higher end.

There are only limited opportunities for the marketing of the Mustang brand. The brand has a fairly narrow appeal, but there is an opportunity to extend that appeal somewhat, especially to consumers who enjoyed the original Mustangs and want to recreate some of that pleasure from their youth. This is roughly the same target market as Harley-Davidson, for example, accomplished middle-aged professionals who want to re-capture some of their use. These customers are willing to pay for a better Mustang, and while the company does offer a couple of higher-end models to appeal to such consumers, there is perhaps more opportunity here than Ford realizes.

There are also threats in the external environment as well. The Mustang faces competition, but it also faces challenges in the economic environment that are suppressing consumer spending. Additionally, there are threats coming from the high cost of fuel, as this discourages consumers from spending on muscle cars in favor of more efficient vehicles.

Marketing

The kind of promotion that I would want to see for the Mustang is one that takes the product to a more premium status. Ford is currently using the Mustang as an introductory vehicle with its pricing below that of the Camaro. However, the Mustang is a very strong brand and is closely associated with power. The company's website highlights the base offering and uses the base offering to compare against the car's competitors. This base offering's key points of attractiveness are price and value. This may be the Mustang that the company sells more often, but it is not the one that consumers really want to buy.

Market Segmentation/Target Marketing

If somebody buys the base model, it is because they cannot afford the Mustang that they really want. I want to see the marketing reflect this, with an emphasis on upselling. The Top Gear clip was focused on the top models, and those whet the appetite (even though the review was mixed) for the car. The reason for this strategy is because it is the high end models that get consumers excited. The buying demographic for the Shelby and the other top models is slightly different, but these cars have an aspirational value that makes them an enticing proposition for even consumers who cannot actually afford such models.

Part of the problem is that Ford might still be considering bringing back the GT (Wert, 2011), which is a higher-end muscle car. The company has not carried this model is recent years, but appears to be reserving some positioning for the GT, and therefore is reluctant to move the Mustang into this position. The marketing of the Mustang, however, can be slightly different from the Mustang that most people actually buy.

Mass Marketing/Mass Customization

The Mustang will always be a mass-market product, in part because that is part of Ford's business model, and in part because the high brand recognition of the product ensures that there will be sufficient unit sales. However, the marketing should see a shift in focus away from the mass market models and towards some of the premium models. The reason for this strategy is not to increase sales of the high end models as much as it is to increase awareness and interest in the brand. For a brand that seems locked into a very narrow demographic, any move that can expand on that target market is something the company should welcome.

Product

The product itself should not change. Ford should still continue to make the different types of Mustang, and would probably benefit from not bringing back the GT, which might cannibalize the Mustang and would certainly cannibalize the marketing buzz.

Promotion

The type of promotion should not change much, only the message. In this, the higher end Mustangs should get more publicity. If we think to that YouTube ad, the Mustang is being given an appeal to more serious drivers and to drivers who love power. Generally speaking, this is actually a crowded market. But by positioning the Mustang in such a broad category, it forces consumers to re-think what a Mustang is, without actually pulling the Mustang's positioning away from being a muscle car. This opens up a larger target audience.