Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Description of ford motor company
Marketing strategies of ford motor company
Ford motor company history
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Description of ford motor company
line, built a company upon those unique foundations that pushed through one of America’s hardest financial times. As of 2014 Ford Motor Company ran into another dip in profit due to the competitive market. However, the company is investing into its future by looking into multiple aspects that have high potential in paying off. As of the end of 2015, the company’s total Revenue equated to $149.5 Billion compared to $135 Billion in 2014. The company’s insight on using start up companies and awareness of sustainability could push Ford Motor Company into a much brighter future. Henry Ford is the founder of Ford Motors, an automobile company with over $149 billion in profits and currently one of the top competitors in the automotive industry with over 14% market share ownership. The company started in 1903 with Henry Ford and partner Alexander Malcomson, Detroit’s largest coal dealer, incorporate the Ford Motor Company with $28,000 in cash and $21,000 in promised funds from 10 other investors, primarily friends, relatives, or business contacts of Malcomson. Between 1903 and the 1908 advent of the Model T, Ford’s company manufactures nine different cars: Models A, B, AC, C, F, K, N, R, and S. The most successful, the
Ford’s major products are passenger cars and light commercial vehicles (trucks and vans). Ford’s current assets include 90 factories, two automotive brands, Ford and Lincoln, and the Ford Motor Credit Company. Ford’s largest market is the United States, where it generated $82.67 billion in revenues in 2014.
Strengths:
- Strong brand awareness within the U.S. market. Second largest market share in automotive industry after General Motors with 14.8%
- Ford’s most popular models include:
F150 pickup
Fordism changed American industrial and consumer in many ways such as Henry Ford developed new techniques of car manufacturing and marketing that made it easier for ordinary American citizens to try themselves. After three years of establishing his company “Ford Motor Company” in 1905, Ford introduced to the American people “Model T” for which was a light-weight vehicle that can handle to cruise the country’s poorly maintained roads. In Europe for which the car that is mostly used over there is the “Mercedes” for which was targeted for high-class people of society over there and were superior in craftsmanship in the car manufacturing; however, Ford focused on mass production
Ford Motor Company was founded in 1903 by Henry Ford. The company remained a private company until January 1956, when public sale of the common stock was first offered. The company mainly manufactures passenger cars, trucks, and commercial vans. They have also been able to produce automotive parts and accessories. Company headquarters are located in Dearborn, Michigan
Henry Ford was one of the most famous people in the world. He revolutionized assembly line modes for the automobile, which revolutionized the auto industry for America. He invented the Ford model T car, in 1908, which was his first car he invented. Because of this reason, Ford sold and continues to sell millions of automobiles and became head of a world renowned and innovative auto company. His company didn't really dominate the foreign market, but it made a huge impact in technology and the development of the U.S infrastructure. Today, we look at the Ford company and see how much it has changed, and how much it has evolved. Ford is known for helping build the American economy
As of 2010, Ford is the second-largest U.S.-based automaker and the fifth largest in the world based on vehicle sales in that year. Ford has seen success in the international market, and is ranked in the top ten fortune 500 companies. Ford was the tenth-ranked overall American-based company in the 2013 Fortune 500 list, based on their global revenues in 2012 of $134.3 billion. (CNN, 2014)
Until recently, the Ford Motor Company has been one of the most dynastic of American enterprises, a factor which has both benefited the company and has brought it to the brink of disaster. Today Ford is the second largest manufacturer of automobiles and trucks in the world, and it’s operations are well diversified, both operationally and geographically. The company operates the worlds second largest finance company in the world, and is a major producer of tractors, glass and steel. It is most prominent in the US, but also has plants in Canada, Britain and Germany, and facilities in over 100 countries.
started up in 1903. Of course, it wasn’t all smooth sailing. George Baldwin Selden, an inventor, earned himself a patent for the automobile in 1895. This halted production of the Model A almost entirely. Ford eventually gained the support of other carmakers and eventually shut down the Selden Patent. Henry Ford faced many other challenges including greedy employees, failed model t prototypes and many more things. However, Ford also had his Triumphs in some of the things he's most famous for. First, Ford invented the assembly line. Before, one car would be assembled at a time bringing all the parts around to one place. Ford’s assembly line changed this. Now they could make and mass produce several cars at a time. Heres how it works: a bare chassis would roll down a conveyor. Along the way the engine, wheels, body, and a black paint job would be applied. Going along with the assembly line, Ford was also able to make a cheap, easy to fix,
When Henry Ford was born on June 30th, 1863, neither him nor anyone for that matter, knew what an important role he would take in the future of mankind. Ford saw his first car when he was 12. He and his father where riding into Detroit at the time. At that moment, he knew what he wanted to do with his life: he wanted to make a difference in the automobile industry. Through out his life, he achieved this in an extraordinary way. That is why he will always be remembered in everyone’s heart. Whenever you drive down the road in your car, you can thank all of it to Henry Ford. Through his life he accomplished extraordinary achievements such as going from a poor farm boy to a wealthy inventor who helped Thomas Edison. When he was a young man, he figured out how to use simple inventions, such as the light bulb. He then taught himself the design of a steamboat engine. His goal was to build a horse-less carriage. He had come up with several designs and in 1896, he produced his first car, the Model A. When Ford’s first car came out, he had been interviewed by a reporter and when asked about the history of the car, he had said “History is more or less bunk.” Ford worked in Thomas Edison’s factory for years and the left to become an apprentice for a car-producer in Detroit. While working there, he established how he was going to make the car.
Ford Motor Company current mission statement is “committed to provide personal mobility for people around the world”. With that in mind their vision is to become the world’s leading Consumer Company for automotive products and services. By improving everything they do, the company provide superior returns to their shareholders (Vision, Mission, Values).
Ford Motor Company has been and till the date is known as the king of innovations in the automobile industry. Their research & development department and innovation of interchangeable parts in moving assembly lines resulted in extraordinary global extension for them. They are an old heritage who ruled and still doing impressive jobs in the global automobile market. Some prestigious motor brands are also owned by Ford.
Ford- focused differentiation, medium pricing, breadth of product line is high. A strength is their pick-up truck market share, a weakness is perceived reliability and styling on some of the lines.
New technology has allowed vehicles to achieve the same amounts of horsepower as a larger, high performance engine normally would while keep fuel economy above average. Ford Motor Company developed their Ecoboost engine that provide the horsepower of a V8 engine with the fuel economy of a V6. This has not only become an attractive option for the everyday consumer, but also industries like law enforcement who have been able to see significant savings in fuel costs while not losing any sort of performance value on the vehicles. In addition to more fuel efficient vehicles, hybrid vehicles have also risen in popularity and decreased in cost. Ford Motor Company now offers their Fusion sedan as a hybrid option as well as their Escape and C-max. As the effects of pollution become more apparent, and tougher emission regulations are being passed on new vehicles, hybrids are becoming more and more
Many economic factors exist that impact the development of Ford Motor Company's strategic plan and it’s no small task to project how some of these factors might change as the strategy is being realized. Consider the prospect of expansion into a new market like China or Mexico. Economic changes like currency devaluation will make Ford’s product more expensive to their target market potentially reducing overall sales revenue. Oil prices as we’ve seen in the U.S. economy can also play a big factor as large vehicles become less desirable and more fuel efficient compact cars gain market share.
Ford Motor Company Introduction This paper will address an analysis of the key success factors in strategic planning for the Ford Motor Company, including planning, product offerings, marketing and sales. The paper will also include financial characteristics and a competitive analysis of the Ford Motor Company. Ford Motor Company The Ford Motor Company inspired a manufacturing revolution with its mass production assembly lines in the early 20th century. Ford and Lincoln are one of the world's most well known automotive brands, most known for the Ford Mustang, and F-Series pickup trucks.
Lincoln (Ford Annual Report, 2014). In 2014, Ford automotive made revenue of USD 135.8 billion with a pre-tax profit of USD 4.5 billion (Ford Annual Report, 2014).
Ford is forecasting that 2010 sales in industry will rise to between 11.5 million and 12.5 million vehicles, up considerably from last year’s 8.4 million. Boudette, and Dolan, 2010). Ford is about to launch its smaller vehicles; less than two years ago Ford Motor’s plant in Mexico was building big pick-up trucks. But Ford has retooled to produce Ford’s small Fiesta car, due to go on sale in America for the first time in June. Simon, 2010).Mulally is the architect of Ford’s remarkable recovery in its fortunes.