Saturday, July 27, 2019

Fords marketing strategy The Way Forward Case Study - 1

Fords marketing strategy The Way Forward - Case Study Example This research will begin with the statement that Ford is one of the top ten leading global brands in terms of revenue.   In 2008 to 2009 however, Ford and the automotive industry, in general, experienced difficulty. Its competitors Chrysler and General Motors declared bankruptcy and the company itself is in danger experiencing a substantial decline in sales of 23.4 percent in 2008 to 2009. In an attempt to jump-start sales and save the company, Ford’s new CEO, Man Mulally the former EVP of Boeing (who incidentally helped saved the company’s declining sales after 9/11 attack) implemented a marketing strategy dubbed â€Å"The Way Forward† which served as the company’s blueprint to overcome the 2008-2009 crisis. There are several marketing issues in Ford’s marketing strategy â€Å"The Way Forward†. These are market segmentation, refocused marketing effort and pricing in addition to cutting costs. Perhaps what saved Ford from bankruptcy during the very difficult time of 2008-2009 crisis was its decision to refocus its marketing efforts towards emerging markets. Not only did the company experienced an increase in sales during this difficult time but it also saved on cost when it sold its Volvo subsidiary to leave its maturing market in Europe. As it turned out, it had to keep up with the challenge of the increasing demand rather than get anxious about declining sales.  

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