Customers The main customers of the company were the youth. Most of those that preferred the company’s car were those in the age between 15 to 24 years. This constituted the vibrant and growing market segment…
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Demographic circumstances The overall economy was sluggish in 1961 with many consumers having a delay in purchasing in the models that were developed in 1961 and 1962. Social circumstances There was a change in the preferences of customers and in the period, the makers were struggling to find the perfect satisfaction for the consumers. Economic circumstances There was increase in the disposable income to about 5 percent. This was in 1962. There was severe price overlap in the period. Political circumstances There was change in management of the organization with Lee Iacocca becoming Division manager in 1960. There was election of Kennedy as the president. Competitors of the target market The competitors of the target market include Chevrolets, Fords, and Plymouths. There were also bringing out of Pontiacs, Buicks, and Dodges. Needs from the competitors The needs that were figured out from the competitors were the target market that needed the cars. The growth of two-car families was an optimistic factor that was also realized. Development of products Features: the car was compact. The car also had a six-cylinder engine and transmission to the power. Brand name: Mustang Design: sports car Quality level: developed from the existing model Setting of price The price of the car was set at 2368 dollars. There price was set through inviting 52 couples to view the model and quote a price. Keeping the price low The development was kept low through using the models that had been earlier developed.
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are closely associated with technological innovativeness. In order to cope up with these modern day challenges, performance management strategy is implemented by most of the recent day organisations with the sole intention to remain competitive. In this regards, performance management is often referred as the systematic procedure, with the help of which an organisation engages all of its employees to attain sustainable enhancement in terms of the efficiency of the firm.
Ford is one of the most renowned automobile giant in the automobile industry. Since its inception, Ford has proved to be one of the most technologically advance and competent automobile manufacturing companies in the market. It holds second position in the U.S automobile sector, having a good market reputation and millions of satisfied customers.
es in the automotive industry sector. There are certain imperative strategic issues that have been discussed in the case. The different strategic issues of Ford have been described hereunder (Hitt, Ireland, and Hoskisson, 127-132). One of the decisive strategic issues of Ford that has been identified was regarding the offering of its 10.2 million shares in the year 1956 for sale to the public in order to cope up with the vulnerable business position in the global automotive industry (Hitt, Ireland, and Hoskisson, 127-132).
Car general Companies are affected globally by stiff competition from international competitors (John, 1999). John reports that global competition has greatly influenced the operation of the automobile industries. He notes this with the Ford, Toyota and General Motors
Both companies have international presence because they have plants in to other countries. In addition, they export their automobile and spare parts to other countries. Their sales have global presence as their vehicles are purchased in different countries. However,
further added that Taylorism is mainly focused on improving economic efficiency by utilizing limited workforce and eliminating the duplication of roles.
Workers in Australia, America, and Europe can accept Taylorism in its form today because it promotes efficiency in the
They help in analyzing how much successful the company has been in achieving its goals and objectives. The profit and loss is calculated for each operating and non-operating activity of the company. This helps in estimating the net profit and loss. That is why it is
Strategic management refers to the evaluations, decisions, and actions undertaken by an organization seeking to build and sustain a long-term competitive edge over its rivals over time. It involves an analytical assessment of the organization’s set strategic goals including its mission, vision and the overall objectives that guide its operations.
The company has a well-structured business model where it organizes the employees in teams thus increasing the productivity per unit level.
The business model of the company is equally designed in a manner that the company is
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