Ford Motor Company Elasticity/Consumer Behavior and Market Competitiveness
In 2009, in a strategic marketing move, Ford realigned their company and introduced their ONE Ford initiative. This plan enhanced their 2007 move of creating “a single global product development organization to maximize economies of scale and share best practices and ideas” (2009 Annual Report). The concept of ONE Ford is One Team, One Plan, One Goal. “ONE Team emphasizes the importance of working together as one team…. ONE PLAN: The company’s four-point plan consists of: balancing our cost structure with our revenue and market share; accelerating development of new vehicles that customers want and value; financing our plan and rebuilding our balance sheet; and working together to leverage our resources around the world. ONE GOAL: The goal of ONE Ford is to create an exciting and viable company with profitable growth for all” (Ford 2009 Annual Report). Ford is truly putting customer’s expectation and demand at the forefront of their decision making processes. Ford is capitalizing on their market competitiveness and creating a loyal customer base that will buy their brand for years to come.
Ford started 2010 with a 24% increase in sales. New products are the drive behind Ford’s brand favorability (Ford Motor Company 2011). The market competitiveness was evident when Ford swept the North