Ford case

Ford Case s The main s of the company were the youth. Most of those that preferred the company’s car were those in the age between 15 to 24 years. This constituted the vibrant and growing market segment.
2. Reason for target
The market was targeted since statistics from demographics showed that there would be an increase on 54% of the age of 20 to 24 by 1970. In the same period, there would be a growth of 15-19 year old group by 41%.
a) Demographic circumstances
The overall economy was sluggish in 1961 with many consumers having a delay in purchasing in the models that were developed in 1961 and 1962.
b) Social circumstances
There was a change in the preferences of customers and in the period, the makers were struggling to find the perfect satisfaction for the consumers.
c) Economic circumstances
There was increase in the disposable income to about 5 percent. This was in 1962. There was severe price overlap in the period.
d) Political circumstances
There was change in management of the organization with Lee Iacocca becoming Division manager in 1960. There was election of Kennedy as the president.
3. Competitors of the target market
The competitors of the target market include Chevrolets, Fords, and Plymouths. There were also bringing out of Pontiacs, Buicks, and Dodges.
4. Needs from the competitors
The needs that were figured out from the competitors were the target market that needed the cars. The growth of two-car families was an optimistic factor that was also realized.
5. Development of products
Features: the car was compact. The car also had a six-cylinder engine and transmission to the power.
Brand name: Mustang
Design: sports car
Quality level: developed from the existing model
6. Setting of price
The price of the car was set at 2368 dollars. There price was set through inviting 52 couples to view the model and quote a price.
7. Keeping the price low
The development was kept low through using the models that had been earlier developed.
8. Selling the car
The car was mainly sold in United States.
9. Promotion
Promotion of the car was mainly done through different ways including launching campaigns in print and televisions, TV onslaught, color pages, black and white ads, running a contest for command hairdressing and by radio. There was also working with different departmental stores to promote the car.
10. Sales
For the first two years, Mustang was able to generate a net profit of 1. 1 billion.
Work cited
From Monumental Failure to Outstandingsuccess: The Edsel and Mustang. Contrasts of mistakes and successes (blunders and bullseyes) 6 (2015): 84, 85, 86, 87. Print.