A SWOT analysis identifies the strengths that a firm can use to overcome its weaknesses, exploit opportunities, and address threats.
Exploring the External Environment. Political, Economic, Sociocultural, Technological, Environmental, and Legal Ford Motor Company has seen its fair share of industry dynamics since its early days. In most recent days the factors that play into each part of the "PESTEL" analysis are not much different from those of the past.
However the emphasis that is placed on each one seems to be increasing exponentially. The political environment of the US today seems to be widening more and more with each election and campaign.
There are so many specialty groups petitioning for this or that which makes life difficult for a large firm in which tries to attract people from all backgrounds. Ford has done a good job of maintaining its image as a workers truck.
As was stated before in other posts, Ford also attracts the attention of other types of social-economic groups with its "high-class" expensive luxury lines of vehicles. Ford Motor Company has suffered just as the rest of the auto industry in the past years. As was mentioned previously their ability to maintain a level of business that enabled them to stay afloat when others were taking handouts was an example of their ability to adapt to changing economic circumstances.
Not only was the auto industry hammered during the recession ofbut shortly following that was the collapse of the banking industry.
Ford Motor Company's ability to stay above water with their financing capabilities was impressive as well. Sociocultural Factors Ford in recent months has increased their advertising to help consumers understand that Ford is an innovative and exciting company with new and pertinent vehicles that are sleek in design and capability.
One of the things that they are focusing on is the environmental factors which we will talk about later. They are playing to all types of consumers also Ford has increased their advertising to new drivers or parents of new drivers explaining why their new models are some of the best cars available for new drivers to use.
As it has been mentioned in other posts, Ford's major move in recent years is that of the technology that is in their cars. With Ford's venture with Microsoft to introduce a "smart car" that has an understanding of what types of music the driver prefers to read text messages aloud and voice commands; Ford has definitely taken the lead in terms of technology inside the car.
With this leap however some bumps and bruises have come with the territory. Environmental Factors Ford has unleashed a new line of economic cars with the emphasis on the environmental safety of the cars.
With going green being a major concern of a growing number of people, Ford has changed its focus from large gas guzzling SUV's to more fuel economic engines and technology.
Ford is making changes in order to conform to new government regulations and market conditions.The External Marketing 2 Environment REUTERS/Dado Ruvic Learning Objectives LO1 Identify the external forces that influence marketing.(pp.
29–30) LO2 Explain the impact of the economy and various market structures on marketing practices.
(pp. 30–33) LO3 Describe the way various competitive forces influence marketing strategy development. External and Internal Environments Automotive Industry - Ford Motor Company Choose the two (2) segments of the general environment that would rank highest in .
The internal business environment comprises of factors within the company which impact the success and approach of operations. Unlike the external environment, the company has control over these lausannecongress2018.com is important to recognize potential opportunities and threats outside company operations.
Marketing strategy is a long-term, forward-looking approach to planning with the fundamental goal achieving a sustainable competitive advantage.
Strategic planning involves an analysis of the company's strategic initial situation prior to the formulation, evaluation and selection of market-oriented competitive position that contributes to the company's goals and marketing .
Amid the pressure to develop new products and squeeze costs out of operations, internal marketing is easily overlooked. After all, in times of financial stress, even external marketing budgets are.
Foresight leads to Ford's comeback. October 28, Daniel Howes - Detroit News. The rush to confer quasi-sainthood on Ford Motor Co. CEO Alan Mulally is understandable, given the pile of profits the automaker is amassing — standing at $ billion so far this year, ahead of schedule.