This report examines the marketing overview and promotional techniques used by Ford. It covers topics such as the marketing mix, promotion mix, AIDA model, and push and pull strategies. The report provides insights into how Ford promotes its brand and products in the competitive market.
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Table of Contents INTRODUCTION..............................................................................................................................3 MAIN BODY.......................................................................................................................................3 TASK 1................................................................................................................................................3 Marketing overview and knowledge...............................................................................................3 Promotion mix used by Ford..........................................................................................................4 Task2.....................................................................................................................................................6 AIDA model.....................................................................................................................................6 Push and Pull Strategy.....................................................................................................................7 CONCLUSION...................................................................................................................................9 REFERENCES...................................................................................................................................10 Books & Journal:..........................................................................................................................10
INTRODUCTION Market is wider and broader as it comprises of small, medium and large companies. In this competitive market, it is critically important to focus on change and trends in market so that goals are accomplished appropriately. Marketing strategies are needed in order to solve problems or face critical situations(Brooksbank, 2018).Main aim of this report is to examine the market portfolio which impacts the business.Ford, an American auto-mobile firm headquartered in U.S. It is located at global scale and has many subsidiaries such as Lincoln, Ford Motor Credit Company, etc. This report comprises of two tasks in which task one includes overview of marketing knowledge & promotional techniques and further in task two it comprises of marketing theories. MAIN BODY TASK 1 Marketing overview and knowledge In business perspective, it is essential to focus on growth and development of enterprise so that it is easy to achieve objectives within period of time. In this session, marketing knowledge is based on marketing mix, strategies and promotional techniques. Marketing mix refers to strategical approach which is used by entity to promote a brand to increase awareness. Ford is an auto-mobile manufacturer that too uses this marketing knowledge in such a way that as it enhances the awareness of a brand. Due to increase of competition in market, it is becoming crucial to adopt methods as well as strategies(Donndelinger, 2020). Marketing mix- 4 P'S This is a marketing method which is used by organisation in order to develop a brand awareness in market. This concept is important as it help in achieving of benefits easily. Also, it is time consuming processbecause large range of information is needed to use thismethod. Furthermore, it is necessary to adopt it with proper considerations so that problem or issue does ot arise in near future. Product Product refers to commodity which is meant for sale. An organisation has wide range of products. In context of Ford, they too have wide number of products line such as auto-mobiles, trucks, buses, tractors etc. With larger product portfolio, it has been examined that customers have large number options to choose. To execute exchange process in proper manner it is necessary to have products as well as services so that further activities are carried out accordingly. Price
A price is defined as value of something which is to be purchased or sale. There are several kinds of pricing strategies which is used by Ford like premium pricing strategy, market oriented pricing strategy, etc. With help of such pricing strategies company is able to deal with people. To set a price, it is essential to focus on these tactics as it helps in influencing decision of others. In viewpoint of selected entity, it is necessary to states that business scanning is required to be done by them with competitor analysis & which assist them in section of pricing strategy. The prices of products are mostly flexible so it is necessary to have appropriate knowledge about market activities and trends(Gbadamosi, 2019). Place A place is defined as location or distribution place. It is essential for organisation to have a appropriate type of both physical place and online modes so that it is easy for customers to access company's products & services. In relation of Ford, they are located worldwide and has number of service centres as well as customer care. For example- they have various places such as official company website, entity owned service centre and many more. It is too examined that it place also provides a physical proof of existence of a brand. Promotion A promotion refers to set of techniques or advertising methods which assist in development and growth of business products. In reference of Ford, they too uses promotional techniques on the basis of which they are able to market themselves easily. Furthermore, it is also seen that there are different ways through which promotions are done such as social media platforms, newspapers, broadcasting etc. Ford promotes through viral marketing which is used by by most of companies. For example- public selling, public relation etc. Promotion mix used by Ford Ford is large enterprises and uses promotional mix with aim of promoting products & services at larger scale. In this competitive market, it is essential to increase and enhance brand awareness so that competitive benefits are achieved. Huge amount of investment is made by firm during promotional mix. There are various kinds of promotional elements such as advertising, promotions, direct marketing & personal selling. So, ways through which promotional mix is used are further are discussed as follows- Promotional through customer experiences Ford has large number of customers and focuses on development of customer experience. Moreover, Ford has also been using loyalty reward programs, redesigned call centre with aim of improving customer experience at larger scale. With help of reward programs, company is able to improve customer experience in proper manner.
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Promotion through social media & other media platforms Ford marketing department is highly effective and uses different modes of ways to promote a brand. Social media has been always great platforms for brands when it comes to promotion. In reference of selected firm, they also promotes their brand through use of Facebook, Instagram, etc. They spend a huge amount on social media strategies so that objectives are achieved. From above discussed matter, it has been stated that it is essential to have appropriate knowledge about marketing so that it is easy to achieve competitive advantage. It has been also stated that it is necessary to focus on concept of marketing so that it is easy to access business objectives(Zol-ala, 2019). In external spaces (i.e. advertising billboards) At present situation, Ford do not promote their brand through external spaces like advertising billboards. Thus is because inthis digital era, using of advertising billboards is less effective as compared to online channels. Also, people pay less attention to advertising billboards because of digital activities of business. External spaces are needed to be used at peak period so that ways of increasing awareness is done in proper manner. Advertising billboards are to be viewed as traditional mode of promotions. Via digital platforms- Digital platforms are essential to be used to promote and advertise a brand. In context of chosen firm, they uses digital platforms which assist them in promoting of firm product in easier way. Manager of firm make assure that digital platforms are critically to be used as they help in achieving of benefits easily. It has been also stated that it is cost expensive procedure to promotes brand but is highly effective(Suhud, 2021). Therefore, it is too examined that advertising of company products through digital platforms is highly effective so it is necessary for entity to have relevant knowledge about these promotional tools & techniques so that resources are used efficiently and appropriately. Through third parties- It is another way through which organisation promoted their brand at higher scale.For example- third parties includes news, articles, analyst reports etc. With help of these third parties, it is easy to develop brand awareness in easy way. In reference of chosen firm, they also at minimal level of access third parties so that it is easy for them to reach to target audience in proper manner. Therefore, it is too seen that it is responsibility of manager to make ensure thatmost appropriate kind of tools are being used. Furthermore, by accessing to marketing knowledge it is easy to implement strategies in most efficient way.
Task2 AIDA model Aida model is one of the effective model that is considered for making important decision in the business. This model is utilized by many companies throughout the world in the form of marketing strategies in order to enhance their profitability. It can further be elaborated as a systematic processthat a customer has to go through in order to purchase the product that fulfils their current requirements(Stadnyk, 2020).It is mostly used with aim of generate awareness of a brand and influencing decisions of others. It has been stated that it is critically crucial to focus on such kinds of model so that it is easy to achieve competitive benefits. Furthermore, it is duty of manager to make assure that process is being executed in proper manner. The steps are required to be followed in a appropriate order. It can be detailed below for it's better understanding. Attention(A):It is the first and most essential steps that is mainly undertaken by the marketing team in order to promote their product or service that create attention of their potential customers. At this stage, it is a start of creating healthy relationship for influence the consumers to purchase their offering in order to satisfy their needs. This can be simply be referred as creating good marketing campaign by advertising that create attention of those people who can meet the requirement that the company is engaged in. This has been fruitful for Ford company in order engage the attention of the customers of their competitors in the industry. Interest(I): This is the extension of the first stage. This can be simply be stated as a a more conscious and deliberate attention of the customer towards their specific offerings. Here the details regarding the specific product is provided to the customers in many ways that includes company's brochures, photo or video clip. This has been fruitful for the company in order toattract more and more interest of the people in U.K. and throughout the entire world(Plakias, 2020). Desire(D): Once the world has been established regarding their product offering. It is a task for the marketing and advertising team to persuade the people to persuade their product and become their customers. This is done by them by conducting the detail research in order to satisfied the needs that is most demand by the people who comes under their target market. This will enable them to create emotional connection with their value customers and in turn persuade them to purchase their offerings. The company has been well informed from the changing needs of the consumers and has been fruitful in enhancing their customer base. Action: Once the company has been available to create desire in the minds of the people to engage with them by initiating the purchase of their car by either switching over their
competitors or indulge in first time purchase of the car that meets their requirements. For doing this, the company has engaged in strong advertisement campaigns has utilized 7 p's of marketing that has enhanced the confidence among the buyers to take action and finally undertake the task to purchase their specific SUV's 9Pashootanizadeh, 2018). Although the above model is usually in enhance the sales revenue. Still the management should not limit their efforts in implementing AIDA model appropriately. In today's modern times, it is also important for ford to maximum their customers satisfaction by utilizing latest technology. This will be beneficial for Ford to get ahead of their competitors and be able to sustain their position for their long term survival. Using of this model is not easy task and require properuse of market information so that goals are accomplished in most efficient way. Push and Pull Strategy It is important for the companies throughout the worldto be able to select either push or pull strategy that is most important for appropriate for them that fulfils the purpose of existence of their Organisations. Push strategy is mainly focused on introduce their brand to their customers. This is preferred by businesses to meet their short term goals in order to boost sales(Othman, 2020).While Pull strategy is broader and it's main focus is to create valuable content to their Target customers. In today's times it is more preferred as it utilize the latest technology that includes pay per click,etc. For doing this,it is important to have a detailed comparison of the two strategies in order to get it's better understanding for Ford. This can be states below: Advantages of Push Strategies: Push strategy has been appropriate for the company when the leader wishes to reach to wider audience in order to enhance their target market. This can done by Ford in variety of ways that can include the use of billboards for it's products that comprises of Cars, SUVs, diesel cars, hatch cars and all other vehicles. It is most preferable by new companies in order to able to widen their reach
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in order to recognize their brand among a large number of people. Billboard is further useful for them as it saves a quite amount of time spend and more customer's are able to acknowledge their presence. Disadvantages of Push Strategies: Push strategy also has quite a few disadvantages. One of the main issues that may arise with the company by implementing this strategy is that a lot of money is incurred in order to accomplish their marketing activities. In addition to this, this isn't feasible to achieve economies of scale as production as well as the distribution is determinedwith the real and most recent demand(Liu, 2017). Advantages of Pull Strategies: Push strategy is more favourable in these modern times. Some of it's main advantage includes that the company is able to constantly able to communicate with their customers by ensuring planning in very organized way. Along with this, execution system is more efficient and also your supply vendors will be capable to fulfil the promises of all your customers by enhancing their value. Disadvantages of Pull Strategies: In comparison to the push strategy, the only disadvantage of this strategy is that the companies already has a large customer base. This strategy won't be viable for further widening their customer base more as the company already has a define set of customers and won't be fruitful in engaging the people about their target markets. Limitation of this strategy is that it is mostly applicable when higher brand loyalty is present. Also, it needs higher demand for a product which is quite difficult in this competitive market (Gbadamosi, 2019). Ford has has utilized the pull strategy for expanding their offering in foreign country and they can further increase their efforts in order to establish themselves as a auto-mobile manufacturer at a global level. This is done by them as it required the use of intelligence resources in order to be able to realize their goals. By utilizing pull strategy, company would be able to co-ordinate each of their activities in order to ensure stability in the production processfor proceeding in the right direction to achieve their defined objectives. The systematic process has enabled the company to cut down cost and provide them supply on a constant basis as per their needs. Along with this, Ford has gained success is Order to delivery process and has been capable to reduce their production time to 15 days. Ford's has able to reach their actual performance that is quite closer to that of set standards. This has been done by them in order to make optimum utilization of their limited resources so that their mixing centres can be optimized for schedules and delivery. Along with this, they have done
some changes by utilizing the latest technologies in order to offer customized their product as well as services in order to have a appropriate awareness of their responsible in the entire supply process. This has witness higher user involvement and in turn enhanced the profitability of the company. Ford is even utilizing the opportunity of the recent covid crisis by quickly implementation of their plan by have addressed his crisis(Donndelinger, 2020).The management for the company was very thoughtful to provide immediate solutionswho were impacted with the lending or financing issues through Ford credit. There continual measures by being well informed about the latest changes that happens in their business environment will enable that utilize their talented workforce and devise powerful strategies in order to enhance their performance further and achieve high performance level compared to their immediate competitors. So, above discussed matter shows that using of strategies and models in this contemporary market is beneficial because it increases the effectiveness of work and other activities. Therefore, proper business scanning is required to be done so that it is easy to achieve set objectives within effective manner. CONCLUSION After a brief analysis of above report, it has been concluded that it is crucial to focus on principles as well as practices of marketing so that it is easy to implement strategies in effective manner. So, discussions have been made about marketing mix, promotional tools and techniques, promotional mix. This has been evaluated that it is duty of manager to make ensure that effective approaches are being used appropriately. With change period of time, it has become important to use strategies so that these promotion methods are adopted in most efficient way. It is analysed that without using of advertising technique it is not possible to achieve competitive advantages.
REFERENCES Books & Journal: Brooksbank, 2018. How applicable are conventional strategic marketing practices in emerging markets? An exploratory study in India.International Journal of Emerging Markets. Donndelinger, 2020. Design for the marketing mix: The past, present, and future of market-driven engineering design. Journal of Mechanical Design,142(6). Gbadamosi, 2019.Contemporary issues in marketing: Principles and practice. Sage. Liu, 2017.Push and pull: targeting and couponing in mobile marketing(Doctoral dissertation). Othman, 2020. Effects of Service Marketing Mix on Umrah Customer Satisfaction: Empirical Study on Umrah Traveling Industry in Malaysia.TEST Engineering and Management,83, pp.22895-22909. Pashootanizadeh, 2018. Application of the AIDA model: Measuring the effectiveness of television programs in encouraging teenagers to use public libraries. Information and Learning Science. Plakias, 2020. Direct marketing channel choices among US farmers: evidence from the Local Food Marketing Practices Survey.Renewable Agriculture and Food Systems,35(5), pp.475-489. Stadnyk,2020.Theconceptofmarketingofbalanceddevelopmentandfeaturesofits implementation in the food market.Agricultural and Resource Economics: International Scientific E-Journal,6(1868-2020-1687), pp.80-95. Suhud, 2021. The Relationship between Push-Pull Motivation, Destination Image, and Stage of Visit Intention: The Case of Belitung Island.International Journal of Hospitality & Tourism Systems,14(1). Zol-ala, 2019. Investigating the Impact of Outdoor Advertisement on Cinema attendance in Tehran, Based on AIDA Model.IAU International Journal of Social Sciences,9(1), pp.67-74.