WEEK 9, Assignment 3: Promotional and Advertising Strategies
Course: Contemporary Business
Date: March 1, 2014
The automotive industry has had its share of high and low moments. As the economy takes a tumble, automobile manufacturers feel the impact of that tumble. However, when things are going good with the economy, the demand for a new, innovative, reliable, and efficient vehicle becomes a booming business. But a good economy doesn’t always guarantee success. What additional steps must a company take? The answer is simple. A company must scan its market and prepare a marketing strategy that appeals to that intended market. For some companies, it takes a tremendous amount of persuading and influencing to get individuals to navigate towards their specific product. For others, it is easy to rely on the legacy and foundation of your company to simply and efficiently move your products. Two automotive companies that share both similarities and differences in the automotive industry are Jaguar and Ford. Both in a very distinct league to themselves, these two automobile manufacturers know what the customers want and they deliver.
Jaguar, a company that continues to push boundaries and go above and beyond for their customers, stays true to the foundation that was set forth by it’s founder over 90 years ago. The company realizes that innovation and efficiency are important, but they also realize that customer satisfaction and longevity are just as important in maintaining and continuing to thrive as a successful business. Being one of the most expensive automobile manufacturers, Jaguar does not rely on mainstream media to promote or inform the general population of its cars. Jaguar knows its market and it focuses specifically on that market. Although based in Britain, the innovative automobile maker has branched out into over 100 markets worldwide, one of which includes the United States. “Our role is to deliver the team's design intention, every time with every car. It’s our job to achieve a strict specification and, for me, quality is the ability to repeatedly achieve that specification. It’s that attention to detail that we instill here. We’re building luxury cars.”1 Coming directly from Grant McPherson, the director of operations for Jaguar, it is clearly evident that there is a lot of attention to detail and perfecting every car that is put on the market. This is the type of information that customers want to know. Ford Motor Company is similar in this category in the sense that it too focuses a great deal on what customers want to know. The difference comes with marketing and being a common name in the general public. Ford goes above and beyond to create commercials, ad campaigns, etc. to ensure that the public nationwide knows about its products. While the prices are drastically cheaper than what a car company such as Jaguar charges, the cost of marketing and promotion only adds to the cash flow going out of the company. Also, both companies focus a great deal on producing vehicles that are environmentally friendly and Ford is, by far, one of the leading automobile manufacturers who continue to raise the bar in this category. “At Ford, we structure our core business model around using resources responsibly to create long-term value as a corporate citizen and global competitor.”2 Ford knows that to keep customers, they have to value and protect them. This not only happens while making the vehicles. It continues once the vehicles are purchased and on the road.
Two recommendations that I would suggest to Ford would be to ensure that all vehicles are thoroughly inspected prior to placing them on the market and to implement a policy that produces quality customer service 100 percent of the time. I would suggest the inspection because Ford customers give a lot of complaints about things going wrong with their vehicle in such a short amount of time. Also, Ford has...
Cited: 1.) http://www.jaguarusa.com/about-jaguar/jaguar-business/quality.html#skip-tertiary
4.) Boone, L. & Kurtz, D. (2013) Contemporary Business (15th ed.). p. 404
5.) Boone, L. & Kurtz, D. (2013) Contemporary Business (15th ed.). p. 406
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