“THE MARKETING STRATEGY OF FORD MOTOR”
By
SHISHIR PRATAP SINGH
(REG No. 5141)
OF
VISHWA VISHWANI INSTITUTE OF SYSTEMS AND MANAGEMENT
UNDER THE GUIDANCE OF
Dr.C.ANURADHA
ASSOCIATE PROFESSOR
A PROJECT REPORT
SUBMITTED TO THE
FACULTY OF BUSINESS MANAGEMENT
IN PARTIAL FULFILLMENT OF THE REQUIRMENTS
FOR THE AWARD OF THE
POST GRADUATE DIPLOMA IN MANAGEMENT
July 2010
Declaration
I Shishir pratap singh, hereby declare that this project titled “THE MARKETING STRATEGY OF FORD MOTOR” Is an original work carried out by me, under the guidance of DR.C.ANURADHA (Designation of faculty). The report by me is a bonafide work carried by me of my own efforts and it has not been submitted to any other university or published any time before.
Signature of the student
Shishir pratap singh
Date:
Place:
Certificate
Certified that this project titled “the marketing strategy of ford motor” is bonafide work of “THE MARKETING STRATEGY OF FORD MOTOR”, who carried out the research under my supervision, certified furthers, that to the best of my knowledge the work reported here is done not from part of any other thesis dissertation on the basis of which a degree or award was conferred one an earlier occasion on this or any other candidate.
Signature of the Faculty Guide
Dr.C.Anuradha
Date:
Place:
Acknowledgement
I would like to thank my Project Guide Dr. C.ANURADHA and project coordinator Prof. SUNITA RATNAKARAM for his immense guidance, valuable help and the opportunity provided to me to complete the project under her guidance.
I would like to thank all faculty members of Vishwa Vishwani Institute of Systems Management for guiding and supporting me in the completion of project from time to time.
To initiate with anything I would like to record my sincere thanks to all members of FORD MOTOR LTD. Specially MR.IMAD AKHTAR (General Manager) MR.SHREEKANT (ASST MANAGER), ISSAQ PASSA and MR. ABID for providing assistance from time to time for this project.
Last but not the least, my gratitude to great almighty and my parents without whose concerned and devoted support the project would not have been the way it is today.
Shishir pratap singh
VVISM , Hyderabad
Table of Contents
TOPIC PAGE NO.
Title page
Declaration by student trainee
Certificate from company
Certificate from guide
Acknowledgement
Content page
Executive Summary
Chapter. 1
Introduction
a. Objectives
b. Need for the study
c. Scope & limitation
Chapter .2
Research Methodology
Chapter.3
Company overview
Industry overview
Literature review
Chapter .4
Data Analysis
Chapter .5
Findings, recommendations & conclusion
Annexure
Questionnaire
Documents supporting if any
Bibliography
PREFACE
S
ummer Training in any organization is an attempt to provide the student a practical input and exposure to the real world situation in which he has to work in future.
My training in FORD MOTOR was an attempt in this regard. The project work provided to me was a titled “The Marketing strategy of Ford Motor”. To developed the new business relation with different nationalized and private bank across the twin city Hyderabad and Secundrabad. I conducted the event show of popular “go fida” cars, the “ford FIESTA” and “ford FIGO” and met a lot of customer and got information from their side.
The Extract of the work is presented in this report under various headings as, Introduction, Company’s Profile, Project Introduction, Methodology, Data analysis, Suggestions and Conclusions.
This report provides me a chance to study and analyses the practical aspects of the topic (The Marketing Strategy of Ford Motor). It enhanced my knowledge in the field of marketing. This project also gave me the chance to improve logical thinking and interacting patterns.
While working on the project, I came to know about the latest marketing strategies and trends prevailing in the market. The way of promoting the products, providing a better convenience of customer, and developing the new strategic technique to sell the product.
EXECUTIVE SUMMARY
This project was really a challenge for me but I learned a lot while preparing this project basically FORD MOTOR LTD. Manufacturing the cars and providing better service to the customer, and it has new launched the “go fida”
è FORD FIESTA
è FORD FIGO
This project high lightens the importance of financial institutions and banks role in car selling. This project also highlights the product promotion during the different bank visit firstly make aware the bank branch manager about the product. The project deals with the various aspects of marketing strategy and sales. New marketing strategy mean that creating new market area, developing the new relation, doing new promotion and advertising is done in relation to the 4 P’s of marketing that is Product, Price, Place and Promotion. There exist some opportunity in the marketing activity done by the company in the past. The new marketing strategy of the company will develop the mutual relation with banks and provide the quick facility the car finance to the customer.
My topic of study is “The Marketing Strategy of Ford Motor” compared the Ford product with the other automobile product in the aspects of features, new technology, modern look, cheap price, luxurious interior design, mileage efficiency during the conducting of event show in entire area of the city.
CHAPTER - 1
INTRODUCTION TO THE TOPIC
Today’s society is warm with urbanization and demonstration effect. With a view towards it, there are drastic changes coming up in all sectors even in the automobile Industries. The following information gives an insight about it.
In the present context the companies operate on the principle of natural selection –
“Survival of The Fittest”. Only those companies will succeed which at best match to the current environmental imperatives – those who can deliver what people are ready to buy, according to their convenience.
But real marketing does not involve the art of selling what the manufacturers make. Organizations gain market leadership by understanding consumer needs and finding solutions that delight consumers. If customer value and satisfaction are absent, no amount of promotion or selling can be compensating. Hence the aim of marketing is to build and manage
Profitable Business Relationship
This is a part of the strategic marketing done by every company to achieve it objectives and goals. To maximize the profits and long-term plans every organization has to follow a strategic planning. Marketing is much more than just an isolated business function – it is a philosophy that guides the entire organization towards sensing, serving and satisfying consumer needs. The marketing department cannot accomplish the company’s customer relationship-building goals by itself. It must partner closely with other departments in the company and with other organization throughout its entire value – delivery network to provide superior customer value and satisfaction. Thus marketing calls upon everyone in the organization to “think customer” and to do all they can to help build and manage profitable customer relationship. Marketing is all around us, and we need to know that it is not only used by manufacturing companies, wholesaler and retailers, but also by all kinds of individuals and organizations
There are four major, powerful themes that go to the heart of modern marketing theory and practice, they are:
1. BUILDING AND MANAGING PORFITABLE CUSTOMER RELATIONSHIPS.
2. BUILDING AND MANAGING STRONG BRANDS.
3. HARNESSING NEW MARKETING TECHNOLOGIES IN THIS DIGITAL AGE.
4. MARKETING IN A SOCIALLY RESPONSIBLE WAY AROUND THE GLOBE.
What marketing is what it does and what it offers?
“Marketing is a social and managerial process whereby individual and groups obtain what they need and want through creating and exchanging products and value with others.”
“Marketing management is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals.”
“Marketing offers some combination of products, services, information, or experiences offered to a market to satisfy a need or want” Marketing is an orderly and insightful process for thinking about and planning for markets. The process starts with researching the market place to understand its dynamics. The marketer uses research methodologies to identify opportunities, that is, to find individuals all groups of people with unmet needs or latent interest in some products or service.
The marketing process consists of the following:
1. Analyzing marketing opportunities.
2. Developing marketing strategies.
3. Planning marketing programs
4. Managing the marketing efforts.
Before taking any decision and achieving the goals, it has to make analysis of what to do, how to do, when to do, where to do and who is to do it. This is nothing but strategic planning. Goals indicate what a business unit wants to achieve whereas strategy is how to get there.
Marketing strategies in simple terms are the complete and unbeatable plans designed specifically for attaining the marketing objectives of the firm. Marketing can be called as a game plan for achieving its goals. Strategy choice will depend on whether the firm or the marketer plays the following roles:
v Market leader
v A challenger
v A follower
v A niche
The identification of objectives, both in quantitative and qualitative terms, is an essential backdrop to strategy formulation. Goals have a quality and time frame attached to them. These are typically spelt out in terms of financial return, market share, market presence, etc. Thus, the concept of market oriented strategic planning arises with the link between the products the manufacturer is dealing in and the market conditions. In this direction, our study deals only with the marketing strategies i.e. promotional strategies of the Ford automotives.
OBJECTIVE
v To develop the relationship with bankers to make the auto finance easy for customer.
v To know the factor of awareness of the cars.
v To Study and analyze the Promotional Strategies of Ford.
v To know whether the customers are satisfied with the offers given by the dealer.
v To find out satisfaction of the customers.
v TO study and analyze the customer's perception regarding the usefulness/utility of Ford cars.
NEED FOR THE STUDY
· To know the all market competitor of the product.
· To understand the all features of product, which I should be promote.
· To study history growth and development of FORD MOTOR in Hyderabad.
· To provide important lead on customer convenience front to FORD MOTOR, which would be helpful in making increase the sell?
SCOPE OF THE STUDY
· The study is conducted for developing the mutual relationship with all private and nationalized banks.
· The study was conducted in Hyderabad and Secundrabad area.
· The study covers the customer’s perceptions and their most used product.
· The study covers the customer’s perception for auto finance.
· The study covers the bankers perception, which automotive company they are sanctioning more.
· The study was conducted to approach the customer those who are approaching for car loan.
· The study covers the product promotion the new lunched product “go fida” the “ford FIESTA” and “ford FIGO”.
LIMITATION
The present study is subjected to following limitation.
Ø To develop the relationship through personal interaction by talking such appointment of Bank Manager and therefore bias becomes a major limitation.
Ø Due to time constraints I have been visit only seventy five branch of different banks, and conduct seven event shows in different place of the city.
Ø During the event shows I met a lot of customer some were intender and some were owner.
Ø The sample was restricted to 75 banks and 10 event shows, which may restrict the scope and completion of study.
Ø The scope of is restricted only to the twin cities of Hyderabad and Secundrabad.
Ø Owing to their pre owned car, shortness of time and due to privacy some customers were unable to entertain.
CHAPTER – 2
RESEARCH METHODOLOGY
MARKETING RESEARCH:
Definition of marketing research as approved as by the board of directors of the association of American marketing association is: “Marketing research is the function which links the customer and public to the marketer through information – information used to identity and define marketing opportunities and problems generate define and understanding of marketing as process”. Simply, marketing research is the systematic design collection analysis and reporting of data finding relevant to a specific marketing situation facing the company. Carefully planning through all stages of the research is a necessity. Objectivity in research is all-important. The heart of scientific method is the objective gathering of the information. The function as marketing research within the company as to provide the information and analytical necessary for effective.
Ø Planning of the future marketing activity.
Ø Control of the marketing operation in the present.
Ø Evaluation of marketing results.
A research may undertake any of the three types of research investigation depending upon the problem. These types of research included:
1. Basic research
2. Applied research
3. Designated Fact Gathering
APPLIED RESEARCH:
It is attempt to apply the various marketing technique, which have been developed as research, first and later on they become applied research techniques. It is on attempt to apply the basic principles and existing knowledge for the purpose of solving operational problems.
STEPS IN MARKETING RESEARCH:
Marketing research process can be out through following steps.
Define the problems and research objectives
Develops the research plan
Collect the information
Analysis and interpretation
Present the finding.
PRIMARY DATA:
It consists of information collected for the specific purpose, survey research was used and he all the details of Ford and their competitors were contacted. Survey research is the approached gathering description and information.
SECONDARY DATA COLLECTION:
The secondary data consists of information that already existing somewhere having been collected for another purpose. Any researcher begins the research work by first going through secondary data. Secondary data includes the information available with company. It may be the findings of research previously done in the field. Secondary data can also be collected from the magazines, news papers, internet other service conducted by researchers.