Ford Motor Company Essays - Ford Motor Company, American Brands

Ford Motor Company HISTORY Henry Ford was an engineer from Detroit, Michigan who had an idea. By 1902, Ford had attempted several times to produce a gas powered vehicle, but with little capital, he realized that his attempts were futile. Ford approached a man by the name of Alexander T. Malcomson about the possibility of manufacturing an automobile. Malcomson, a friend of the family and wealthy coal merchant was reluctant at first but finally agreed with Ford, and decided to assit Ford financially with his endeavor. With Malcomsons investment and Ford's engineering skills a partnership was formed and in mid June of 1903, papers of incorporation for the Ford Motor Company were filed in Dearborn, Michigan. Despite nearing bankruptcy on a few occasions, the company finally took off with the launch of their first car- the Model A, and by 1920 approximately 60% of all automobiles on the road were Ford. Today Ford is the largest truck maker and the number two manufacturer of cars in North America, producing an average of eight cars or trucks per minute. The Ford Motor Company employs 371 702 people at over 2400 branches in 33 countries and sells automobiles in over 200 markets. VISION STATEMENT Our vision is to be the world's leading automotive company, from the viewpoint of our customers, shareholders and employees. Consumer focus, strong global brands, leading quality and values, nimble leadership and teamwork, corporate citizenship, and a passion for growth are the key elements of Ford's Vision and Strategy Pyramid (see appendix) of becoming the world's leading consumer based company that provides automotive products and services. This pyramid provides a summary of the ways that Ford is upholding it's commitment to success. The foundation of this pyramid, and the root of Ford's vision statement is the consumer. It is this consumer based focus the has been the key to Ford's transformation, growth and success over the years. FORD'S COMPETITIVE ADVANTAGES Today's automotive industry in very competitive. Ford has had to find ways to keep ahead of the following major companies: BANC ONE, Bank America, BMW, Budget Group, Chrysler, Daimler-Benz, Enterprise Rent-a-Car, General Motors, Honda, Hyundai, Isuzu, Mack Trucks, Mitsubishi, Nissan, Peugeot, Saab, Suzuki, Toyota, Volkswagen and many others. Ford has developed a number of strategies to do so. The following is a brief description of a few of the ways Ford keeps ahead of the game. The company also spends millions of dollars each year advertising its products to the public. They do this by way of television commercials, newspaper ads, and radio announcements. (See appendix) GLOBAL BRANDS Trust our company, love our brands and delight in our services. This is the theme of Ford's global brand strategy. Ford's approach to brand marketing is that of six distinctive vehicle brands and four distinctive service brands. Among these vehicle brands are Mercury, Lincoln, Ford, Jaguar, Aston Martin, Mazda, and soon Volvo. With several different brands under the name Ford a number of products with an overwhelming set of characteristics has been developed. These strong brand names, along with unique models within each brand assist Ford to build long-term, sustainable links to customers throughout the world. (For a listing of Ford models, see appendix.) People automatically associate certain nameplates to Ford, such as the Mustang, Thunderbird, and the ever popular Taurus. The brand characteristic of a Ford truck is Built Ford Tough, while the characteristics of a sport utility vehicle is ,go anywhere, do anything, practical adventure. The Jaguar XJR is another example of a unique brand of Ford. There are no others like it on the market today. The XJR is targeted at those customers who are looking for that extravagant muscle car. All of these sub-brands share the same global promise of the Ford Motor Company. Strong brand images also help to establish lasting identities for products and services. This proves to drastically cut marketing costs, as well as create consumer loyalty. Creating this loyalty keeps satisfied customers coming back. Ford's distinctive service brands include Ford Credit, Quality Care, Hertz, and Visteon. These trustmark qualities are directly associated with the Ford Motor Company and they help consumers identify Ford as a company with which they can feel comfortable doing business. These service brand images help keep customers in the Ford