The Ford Motor Company Term Paper Example | Topics and Well Written Essays - 750 words - 1

The traverse force back Company - Term Paper ExampleThis has lead to $153 one thousand million in revenues and a market value of $ 73 billion (Hochman 90-7). However, due to the economic crisis, the partnership has seen its revenues and market value slumber in the recent past (Hochman 90-7).As one of the leading automobile producers, Ford Motor Company competes in the oligopoly market (Hochman 90-7). Its main competitors include Honda, Toyota, Kia, Subaru, and many other companies. The market entry in the automobile industry is free to every kindle party however, due to huge initial capital investment requirements needed only a few firms are players in this industry. When Ford Company started with the theoretical account T, they were enjoying the monopoly power as they were the only producers. But this has changed since many firms have also ventured into the industry (Hochman 90-7).A market-centered company is a company that identifies the needs and the wants of its customers and tailors solely its businesses towards those needs and wants (Hochman 90-7). The customers have enough knowledge about the products and the market and are willing to be persuaded. The company offers mass customization and utilizes the importance of 4 Ps in its marketing.Ford as a company had experienced both the good and bad business experience. From one of the leading automobile companies accounting for 25 percent of all cars and trucks to drop in revenue and market share to $146 and 14 percent respectively (Hochman 90-7). It may have attributed to the financial crisis that had befallen the entire motor industry accordingly reducing the sales. However, Ford did not explain its drop in market share or magnitude of its losses compared to the rest of the companies in the industries. Fords company operations were characterized by excessive costs, it had lost touch with its main customers needs and finally, his innovation was not up to date (Hochman 90-7).After the arrival of Mulal ly, the company started to improve their innovativeness, reducing the costs, and axing some of the un-performing brands. Mulally was convinced that competition in all market segments was the way to go and this policy was adopted.