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Assessing Strategy

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Assess The Purpose and Benefits of A Strategy

A business strategy is aimed to build a long-term plan for accomplishing the company's

goals and objectives. A business plan may help you make better decisions, acquire a competitive

edge, and boost overall productivity. A company strategy includes elements such as the

organization's purpose, goals, objectives, and projected outcomes. This article investigates and

evaluates the strategies utilized by Ford Motor Company to stay competitive in the marketplace.

It demonstrates the marketing methods and concepts employed to highlight client pleasure. The

research shows how location and population have affected Ford Motor Company's growth.

Extensive market research was conducted utilizing reliable data gathering techniques, and the

report delves into the study's conclusions in a variety of areas, including competition from

similar firms and customer satisfaction. Furthermore, significant ideas for improving and

changing current marketing approaches have been offered.

Organizational Overview

In 1903, Henry Ford founded Ford Motor Company, often known as "Ford." The

entrepreneur partnered with Alexander Malcomson as he was unable to continue funding his

resource-intensive firms. After the partnership seemed to be doomed due to a lack of funds,

Malcolmson's uncle, John Gray, advised that the partners join forces and seek more investors.

Despite upsetting some of its stockholders, the company was able to turn a profit fast. Ford has a

marketing mix strategy that takes into account product, price, location, and promotion. Ford

focuses on developing a variety of durable, low-maintenance, and economical automobiles to

ensure long-term profitability. Customers' decisions are impacted by appraisals of the things

given to a certain group and their benefits. It offers a wide range of vehicles, including luxury

models, economical vehicles, and sports cars. Marketers' geographical approach determines the
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distribution channels via which their products reach customers. It is the process of getting these

things to customers (Jacobson, 2022). 2022) (Jacobson). A product's final cost is influenced by a

number of factors, including the materials and labor used in production, the cost of obtaining

those supplies and labor, and the cost of delivering the product to the client. Without effective

marketing, no firm can prosper in today's market. Ford exposes their brand to new consumers via

various sporting events and other activities. The Verbaan has entered the year 2018. One of the

most major modifications to their advertising approach has been a focus on internet marketing of

their products. They have created a company blog that is continuously updated with fresh

content. They have also employed worldwide social media marketing to bring their products to

the notice of customers.

Assessing Strategy

The Internet and other technology advances have had a huge influence on modern

marketing techniques. External elements influence the first marketing techniques or habits.

Despite technological advancements that have revolutionized consumers' connections with the

business sector as a whole, a number of challenges persist. Their obligations have changed,

whether they are reliant or independent. Businesses have conducted market research by gathering

data to analyze current market conditions in order to acquire a competitive edge. By studying the

sector, you may be able to find new opportunities that your rivals are missing. Any firm, new or

old, must understand the notion of marketing in the digital era. The digital world may have an

influence on a company's performance depending on elements such as customers, analysis and

identification of partners, competitors, the macro or external environment, and the internal

environment. A company may interact with its customers more successfully if it takes the time to

learn about their interests, preferences, and technological use (Helmold, 2022). Every company
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that wants to compete must be aware of the changes made by its competitors as well as the

considerations that must be considered. Before developing a digital marketing plan, a company

should identify the external factors that will have no influence on the amount of consumer

communication. Consider the importance of political and technological concerns in fostering an

ethical culture inside the company. The strength of the social bond is important because it

determines how clients react when you try to sell them anything. A pleasant attitude toward your

consumers may help your company succeed. Digital marketing has progressed to the point where

its assumptions may be tested and proven by introducing new ideas. Creative people produce

ideas that are then promoted and rewarded, giving them a competitive edge when they join the

market.

Conclusive Remarks

Ford Motor Company has built a global reputation as a household brand through the

years. This is due to the company's dedication to market research and new product development,

as well as its use of marketing techniques to sell its goods. The corporation has assured

networking and relationship building with potential customers by using both traditional and

modern marketing strategies to offer its products. In light of the above, different marketing mix

concepts should be investigated in order to improve performance and create a competitive

advantage over competitors. After-sale services, such as training for purchasers who have never

used the product before, are required for effective product promotion. Two examples are on-time

delivery and trustworthy customer service. If the manufacturer's design is flawed, the business

should require guarantees for the items it purchases. During busy or slow seasons, the firm may

provide price cuts to attract more customers. It must use psychological pricing, which involves

marketing a product or service as more economical than it really is. The effectiveness of a
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company's distribution channels is critical to its success, since inefficient techniques may

discourage potential customers from purchasing your items. As a result, the company may think

about opening a social network shop to sell its items. Customization is required to improve the

user experience and accommodate a diverse range of potential customers from across the globe.

Consumers will have a better knowledge of the product's advantages and characteristics.
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References

Helmold, M. (2022). Marketing Concepts. In Performance Excellence in Marketing, Sales and

Pricing (pp. 35-44). Springer, Cham.

Jacobson, J. (2022). GETTING “ARISING OUT OF” RIGHT: FORD MOTOR COMPANY

AND THE PURPOSE OF THE “ARISING OUT OF” PRONG IN THE MINIMUM

CONTACTS ANALYSIS. New York University Law Review, 97(1), 315-356.

Verbaan, R. (2018). The Transformation of Ford Motor Company: A strategy to improve urban

mobility with autonomous vehicles.