Module 3 Final Papper MMIP, Summaries of Leadership and Team Management

Download Module 3 Final Papper MMIP and more Summaries Leadership and Team Management in PDF only on Docsity!

Liberty University MMIP BUSI Brandon Johnson September 7, 2023

Week 3 MMIP Introduction Ford Motor Company is a growing mass producer of automobiles, and it is important for the company to continue to invest in marketing research and development to remain competitive. To remain competitive, they must conduct marketing research of their internal and external forces, the capabilities of their customer relationship management, and position their product(s) fairly. This paper will discuss how Ford is taking the initiative and will discuss the information they will need to use as they conduct marketing research. Marketing Research For a company or firm to be proactive and accurate in problem solving or identifying opportunities, market research is critical. Good market research follows a well-defined set of activities, enhances the validity of information, and is impartial and objective (Marshall & Johnston, 2023). The marketing research methods that would be best at gathering marketing information for Ford would be qualitative or quantitative research as it would gather primary and secondary data directly from consumers. The use of focus groups to target a diverse consumer field provides a opportunity for discussion on current issues, possible solutions to those current issues, and how the firm is viewed through the eyes of the consumer. Web panels are also used to allow companies access to relevant information in a cost-effective way, as would online surveys as it can reach a vast audience quickly. Therefore, as Ford has grown to a large international corporation the use of surveys and web panels may offer the least costly opportunity to dive into market research to find opportunities and solutions to current issues. External Market Forces

When it comes to making the decision to buy an automobile, extensive research is generally conducted by the consumer as this purchase is an expensive one that will hinder you for the foreseeable future or can give one an ease of mind. The most important consumer characteristics for Ford to focus on are personal characteristics and social factors. Personal characteristics are important as the occupation and income generally depict on a consumer’s choice in automobiles. Generally, low-income occupations do not provide enough finances for a worker to comfortably afford a Ford F-150 as this truck is more so aimed for middle to high class working men and women who prefer the updated products and tools the newer trucks offer. Also, this plays into the social factors as a social class depicts groups based on these demographic characteristics. Product Positioning Ford’s F-150 is in an excellent position in the market segment of middle to upper class working individuals looking to decrease their Carbon footprint while also supporting an American based company that continues to invest in their employees and the community. With Ford continuing to invest in America, customer loyalty is at an all-time high as the company continues to create jobs, increase vehicle assemblies, and reduce costs. Jim Farley, the president and chief executive officer of Ford stated, “Ford is the most American of all car companies. It is because of our belief in our workforce and in America that we build more vehicles and have more hourly employees here than other companies. As we pivot to an EV future, we are proud to continue to invest in America” (Ford Media Center, 2023). Conclusion In summary, Ford does an outstanding job looking towards the future while also staying in flow with current marketing information. As analyzed above, Ford navigates their external

factors gracefully, identifies their consumers and tailors their products to meet their needs, and positions their products to remain competitive in an expanding automobile market. Ford will need to continue to do so as the electric vehicle market will introduce new challenges to the automobile market as a whole in the upcoming years.