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Developing a New Plug-in Hybrid Vehicle - Case Study Example

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This paper, Developing a New Plug-in Hybrid Vehicle, discusses Ford which is one of the most popular automobile companies in the global automobile industry. In case of the lug-in the hybrid vehicle market, Ford has not been able to perform better in comparison to its key competitors. …
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Developing a New Plug-in Hybrid Vehicle
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Download file to see previous pages High brand image and the large portion of market share are the two major strengths of Ford in the UK, and increasing competition and high production cost are the major threat for the company. Major target market consists of high income group people who are tech-savvy and environmentally conscious. The marketing strategy has been planned after considering the marketing, financial and societal objectives. As per the features of four P’s, Ford is expected to follow differentiation strategy by bringing product developments. Promotional activities are important for spreading consumers’ awareness for hybrid cars offered by Ford and hence, it will follow integrated marketing communication (IMC) approach for better performance. The financial planning is done based on projected sales revenue, and the anticipated profit for the years will be minimum. However, with increasing demand in the following years, the profitability is expected to increase. For controlling, evaluation and adjustments of strategies, balanced scorecard (BSC) approach is very effective as it includes major business perspectives. Ford will also use financial techniques for evaluating the effectiveness of the marketing strategy.
Globalization has brought several improvements in the society. In the case of economic developments, globalization has helped to encourage the trade and business among the world countries. Besides, with time, there has been a significant development in the field of technology that further expands the scope of trade and business in the global market. This has encouraged free trade policies and oligopoly market structure. As a result, competitiveness among the players in a given industry has been intensified to a higher extent.  ...Download file to see next pagesRead More
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