Marketing Article Review
The article that has been discussed for analysis is regarding the top automobile production organization, Ford Motor Company. The magnitude and the size of the company demands that exceptional changes keep taking place that keep the company in par with the current business trends. The success of this company shows that they have adequately being demarcating their boundaries and destinations and are making sure they achieve those landmarks.
Introduction to the Company
Ford Motor Company is one of the biggest automobile manufacturers working in this world. The company has the distinction of bringing new types of production processes to the world of automobile manufacturing. In 2007, it has become the third biggest manufacturer of automobiles in the world; this drop from the second position was the first time in 56 years. Ford has diversified into many products over the years, penetrated markets all over the world, and has its share in almost one third on the world. Due to its performance, it was in the Fortune 500 list in 2007, showing its glowing future for the years to come. The company has sold some of its brands and brand names to many other automobile manufacturing companies for mass penetration of markets all over the world, which resulted in the third position of the company in manufacturing vehicles sales.
The article is basically talking about the recent development in the Ford Motor Company where they have made it a strategy to put their customers at the top priority. They do this by the help on installing a customer relationship management application empowering it with SAS. The company sees data management as one of the most important things for a company in this information age; the customer’s perspective is the most important in this case.
The marketing strategy that Ford is apparently using these days is penetration pricing for their different products. They are using a globalization strategy in which they plan to incorporate the responses of all their customers towards their own benefit. According to the article, this has also resulted in increasing the company’s Return on Investment. The company realizes the potential in increasing their customer’s satisfaction with the service they are providing them and the set of promises that they have made with the help of the brand name.
General Marketing Theories
The company is basically targeting all its audience. The inclusion of SAS in their customer relationship management applications will not be a direct revenue generator, rather than it’s a cost. However, satisfied customers mean profits in the long run. Another important factor that helps them gain with the help of this investment is the goodwill that is generated among the customers and other people related to the company as data sharing and transfer has become easier for them.
Customer’s Needs Fulfilled
With the help of an integrated and improved customer relationship management system, the company is able to please their most important stakeholder, their customers. Before this implementation, the customers had to go through a tedious process that was time consuming. Now, their time is saved and customers are catered to in a much better way. Apart from supplying the products to the customers, they are now making their promises as a brand.
The company is taking leaps and bound in terms of data management. By the help of this system management in a joint attempt between the data experts, brand managers of the products and advertisement agencies, the data management will help them get a better picture for future predictive vision for cars. With the help of implementation of this system, the company gains a competitive edge from others in the market in terms of predictive modeling.
Uniqueness of the Article
The article in focusing is on an important aspect that will help them in advancing leaps and bounds in new product development. For the development of new products, data sharing and data management in order to help predictive modeling helps immensely. If the management exactly knows what kind of product is required by the consumers; they would be at a competitive edge in term of other suppliers in the market. This article is focusing more on correcting the means and measures being used in the core marketing practices on which most of the marketing strategies are based on, i.e., customer’s future expectations.
Their recent attempt in increasing their efficiency in data management in order to make their products more inclined towards their customers, can term to be fruitful in the long run for the company. The vision of the company is to supply them with cars which are inclined with their customer’s needs and wants would create a win-win scenario for them in the future.
SAS (2008) Ford Motor Company succeeds with SAS. Retrieved August 20 2008, from website http://www.sas.com/success/ford.html