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Marketing: Industry Forecasting - Research Paper Example

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Name Instructor Task Date Industry Forecasting The Ford vehicle is a product of a manufacturing company by the name of Ford Motor Vehicle Company, which is headquartered in Detroit, USA. The automobile industry came into being in the year 1769 with inventions in the automobiles that ran on steam engines…
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Marketing: Industry Forecasting
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Download file to see previous pages In the 20th century, vehicles that used electricity came into being for a brief spell then vanished from the scene only to reappear later in the 21st century. Due to the increase in fuel prices and the need to conserve the environment, the company produces products that address these issues. The company indulges in the production of very many vehicles that use a wide range of energy sources. It also employs over 215,000 employees and has over ninety plants and manufacturing facilities around the globe (Kades, Cronley and Cline, 2010). These facilities assist the company in meeting the increasing demand for their goods and enhance the cars availability in the market. Among the macro trends that affect the industry are the continuous increases in the prices of fuel. The rise in the prices affects the purchasing behaviors of the consumers with some going for automobiles that consume less energy. The key force behind the comfort and size of an automobile is its efficiency of using energy (Birsch and Fielder, 2004). Another macro trend that greatly affects the performance of the product is the attraction of consumers to products that help in conserving their environment. The company should come up with more energy conserving Ford vehicles to counter the effects of the increase in fuel prices and the costs that their customers encounter in getting treatment (Tiffany and Peterson, 2011).This is because they help in reducing the risks of health hazards in the environment that come from using the product. The customers are increasingly having more sophistication and their knowledge level is on the rise. This is visible from the consultations that customers make before making any purchases. Most of the customers go online for consultation on the best products they can get in the market. Most of the companies in the automobile industry are continuously employing casual laborers in place of permanent workers (Kades, Cronley and Cline, 2010). This is because they are laying of these workers without having to counter the stiff opposition of their workers’ union. The automobile industry is continuously experiencing changes in the structures of their organizations and in the technology in use. These makes the carmakers in the country take initiatives that aim at increasing the company’s global market. They are also signing merger agreements with other carmakers for the purposes of improving their products. This ensures that their products are of high quality and are readily available in the market. Most companies in the automobile industry are coming up with a hybrid of the cars they produce so that they can increase their sales. The product Ford will have over four amalgam motor vehicles in the market by the year 2008 (Birsch and Fielder, 2004). There is the presence of competition from other carmakers around the globe such as Toyota and Nissan among others. The product takes approximately 76% of the cars in the United States with their competitor Toyota from Japan taking 18% of the motor vehicle industry within the country. Their European counterparts on the other hand control nearly 2% of the vehicles in the country (Tiffany and Peterson, 2011). The industry witnesses a boom in the sale of motor vehicle parts though they encounter deficits on their sales of vehicles (Birsch and Fielder, 2004). These trends could influence the successful marketing of the product in a variety of ways. The sale of the products could be on the decrease because of the company ...Download file to see next pagesRead More
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