Ford Motor Company Ford Motor Company is a multinational automobile manufacturing company. It is one of the most well-known and well-liked automobile manufacturers in the world. The Ford Motor Company, which began operations in 1903 in a renovated warehouse, was created by Henry Ford, who was just 39 years old at that time and has spent more than a decade inventing, producing, and constructing automobiles. Ford has been one of the numerous businesses that make up the automotive industry in the United States exclusively. Ford now employs 190,000 workers at over 90 locations and facilities throughout the world, having manufactured over 350 million vehicles. The purpose and vision statements of Ford Motor Company are centered on product effectiveness strategies and corporate management in the automobile industry. The achievement of the corporate purpose and values is connected to the organization’s overall position as a key participant in the global car industry. Considering the struggles in the automotive sector, the firm's management vision and purpose statements impact strategy of the company for improving business success. Ford’s Mission: "To improve people's lives by generate leads more accessible and economical." This mission statement emphasizes the movement of people, which is a fundamental function of vehicles and the transportation industry. The fact that Ford places such a high value on mobility reveals the company's social mission. Ford’s Vision: “To become one of the most trustworthy corporation on the market by making innovative automobiles for a digital world.” The global corporation's strategic aim of being a leader in the automobile sector is reflected in this vision statement. Ford's emphasis on smart vehicles is in line with consumers’ expectations and demands. The firm seeks to boost its competitiveness and viability in a market that favors more sophisticated equipment. Overall Purpose of the organization: Ford's aim is to enhance lives mostly through freedom of mobility. Ford focuses on building strong communities, provide a driver safety experience, and have a positive effect. These basic principles are evident in the company's activities and dedication to succeed. Ford's core principles are based on the company's vision and purpose. Ford places a premium on corporate responsibility and community participation. These principles are at the heart of Ford, and they work to propel the firm ahead, even in the face of a dark and dreary global outlook. Ford's vision and purpose complement each other in order to achieve the common objective of corporate and community excellence. To promote the future of Ford Motor Business and the communities in which it engages, the company follows its guiding values of enhancing lives, making a positive effect, and promoting awareness as well as encouraging innovations. Organizational Culture: Ford Motor Company's corporate culture has an impact on the company's ambition to accomplish its objective of industry leadership. The beliefs, practices, and legacies that influence individual and group performance are defined by the organizational culture of a firm. To create uniformity and harmony, the company wants to integrate its worldwide organization. The following are the major elements of Ford's organizational structure, as determined by this plan: F = Foster Technological and Operational Competence O = Own Functioning Together R = Ford Virtues as a Role Model D = Deliver good results Figure 1: FORD's Culture, retrieved from https://corporate.ford.com/about/culture.html Ford’s Teamwork: In the company's corporate structure, teamwork is one of the most essential goals. Employee engagement is a feature of the company's organizational culture. Personal growth is also emphasized in the organization through team participation and assistance. Ford's corporate culture encourages collaboration as well as the emphasis on individual skills and understanding. To improve productivity, Ford Motor Company fosters perfection in its corporate culture. The company understands the value of quality in order to improve effectiveness. Ford has instructional policies in place to support this aspect of its corporate culture. Workers are empowered to learn and grow, as well as provide ideas for the company's advancement. This aspect of Ford's corporate culture is all on efficiency in terms of customers satisfaction and accomplishing business objectives. The firm also emphasizes authority and transparency. Ford's company culture optimizes financial success through providing outcomes. Furthermore, Ford's employees are motivated to attain better levels of performance because of this aspect of the company's culture. Ford’s Customers: FORD's company employs a Differentiated Marketing strategy in its operations. This approach focuses on two or more segments, with each section having its own marketing mix. Ford Motor Company created automobiles to attract to a broad variety of consumers and to meet a variety of purposes, such as commercial vehicles, sports cars, luxury vehicles, tractor trailers, vans, and trucks. The company's most recent model is the FORD FIESTA, which is aimed towards young people and women. However, Geographic segmentation, Demographic segmentation, Positioning strategy, and Behavioral segmentation are the segmentation variables utilized by FORD Motor Company. Ford automobiles are primarily segregated for the UK automotive market, but they are also segmented for other countries such as Malaysia, Indonesia, and others on a variety of bases, all of which are components of the above-mentioned variables. Demographic Variables, such as age, gender, and income, are used in the newest FORD FIESTA model. This is due to the fact that this strategy caters to young people, women, and middle-income consumers. FORD FIESTA, on the other hand, employs behaviorist factors to improve safety and power requirements. Characteristics of Ford’s Market Segments: The FORD Motor Company description provides a thorough examination of the company, its business areas, and rivals. It was used to assess the company's marketing and technology strategy in order to acquire a competitive advantage in the market. This assessment also examines the company's performance as well as the market's potential. It also includes a threelevel examination of the company: segments, company policies, and stakeholder distribution. Aside from that, the economic results of both company and geographic sectors are examined. It also goes through the organization's strategic subsidiaries as well as recent mergers & acquisitions. The majority of FORD Motor Company's customers may prefer the products since the company understands their demands. Target Market: FORD Motor Company created the FORD FIESTA as a production concept aimed for young people and women. The group concentrates on young adults aged 18 to 25, who are teens and women with ordinary incomes who can afford to own vehicles. And this model is suited for single individuals because it only has 5 seats, which is insufficient for a large family. As a result, this vehicle's size is average, making it ideal for customers who like a mid-size vehicle. Figure 2: New Cars from FORD retrieved from http://panmore.com/ford-motor-company-organizational-culture-analysis Pricing Strategies: FORD FEISTA is being sold at a fair price through the FORD group. This is due to the fact that this product has features that are beneficial to customers, such as fuel savings. This product increases the company's commercial viability. It also identifies the market industry in which Ford Motor Company is segmented in order to place the product for which buyers are more likely to purchase this car. Ford has developed its own pricing techniques, which are more demand or market-driven. Ford is expanding its compact vehicle portfolio by employing new techniques known as "Blue Tag." On the Ford Fiesta, the discounts range between 6% and 15%. Establishing a new product's base pricing is an important component of developing a strategic plan and one of the most important decisions in the marketing mix. In the market industry, the Ford Motor Company sets two sorts of prices: price skimming and penetration pricing. Price skimming refers to the highest potential price that consumers may pay for a product, as well as penetration pricing. For example, Ford Fiesta is dedicated to consumer safety features like as airbags, as well as our efforts to achieve top crash test ratings, which customers consider when purchasing a new car. As a result, the business established a fair pricing for this model aimed at the general public. Promotional Strategies: To entice more consumers, Ford offers incentives such as a cash refund for purchases. In addition, when customers acquire this kind of car, they will be eligible for an iPhone 4 and an iPod as a bonus. It's been likely to price this model more than other rivals by employing this type of marketing. Ford uses exclusive distribution, which means they only have one outlet in a wide geographic area. Exclusive distribution is appropriate for items that are acquired rarely, consumed over time, or necessitate assistance or information to meet the demands of customers. Consistency of International Marketing Strategies with FORD’s Mission: Ford Motor Company employs the Direct Investment worldwide market growth approach. Ford has manufacturing facilities in a variety of locations throughout the world, including China and South America. Ford is deeply entangled in a number of foreign markets, including European, Asian, and South American, to the point that the blue oval has suffered as a result of its engagement. “Also, Ford indicated that it has lost 17,000 levels of output due to Thailand floods and expects to lose another 13,000 units before the production facilities resume regular operations,” according to In Auto News. Because India is a relatively new worldwide market for Ford, it may be a new and difficult obstacle for the business to overcome. Fortunately, such a large corporation generally comes with its own army of attorneys, and it is monetarily in India's economic interest to behave nicely in the arena. If Ford has proprietary technology developed in a foreign market, such as China, another potential roadblock is guaranteeing intellectual property rights are honored. Ford may wish to try making specialist technology vehicles like hybrids in the United States. Ford is also paying a lot of money for entering China and India years behind competitors like as GM and Volkswagen AG. The company's Asian segment lost money for the quarter due to high expenses of designing vehicles for Asian markets and expanding factories to make progress. In Europe, Ford is forming three customer-focused business segments — Commercial Vehicles, Private Cars, and Imported goods – each with distinct goals and structures. Businesses will be increasingly equipped to make quick choices based on consumer demands thanks to the new organizational structure. Ford will increase profitability throughout its product range to improve near-term business performance. Reduced complexity of existing Ford vehicles, optimization of the most lucrative vehicle combinations, and increased quantities of successful vehicle lines will all contribute to this increase. Ford's goal in Europe is to reduce labor operational expenses through positive employee displacements, and it will work more closely with relevant stakeholders and other partners to accomplish this objective.