The Ford Motor Company is an American multinational automaker established in Michigan in 1903. The company has since been growing in its respective industry and has developed a well-known brand name identified around the world. Ford Motors has over a hundred plants all around the world and a wide distribution network that ensures that their automobiles are distributed in over two hundred markets. It has been able to contribute immensely towards the innovation of automobile industry ever since its establishment. As of May 2017, it was ranked at number 64 on the Forbes list of ‘Top Regarded Companies’.
There are some factors that add up to Ford Motor’s competitive advantage and make it stand out regardless of the competition and grow each year. One of these factors is its constantly improving strategies and bringing innovation in the industry. For instance, the introduction of smart cars that function in terms of fuel efficiency which helps it to provide its consumers with the products those are not harmful to the environment in any way. Ford Motors play their part in saving the environment through production of such cars. In terms of internal strategies, it implemented centralized decision making strategy that worked for them really well and paid the company off in terms of improvement in all aspects of the company and helped it to provide better products to its customers. This also serves the current high demand of fuel economic price and low maintenance cost, so it serves the buyers who are looking for cars that are easier to buy and maintain.
Ford Motors also worked over the years to cut its production costs while still improving the quality of their products. It has cut down its excessive cost and works on low production cost by introduction of technology and making some of the process online. This low cost strategy gives Ford a competitive advantage as compared to its competitors. Along with this strategy and through smart cars, it is able to create a win-win situation for the company as well as the buyers.
Ford Motors has also been able to provide the customers with a fully technology integrated system where the users of the cars are able to control and track their cars through their smart phones. This is an important factor in terms of their development, since buyers are now well-aware of the technology and it is highly important for Ford Motors to keep up with the changing trends in technology so that they are able to provide their buyers with a unique experience.
All these factors along with the fact that Ford Motors has been able to maintain its reputation in the industry for decades serve as the competitive advantage for it. Buyers have been loyal to the brand name for years now and their sales and growth has been increasing each year since the time it was first introduced.
References
About Our Company. Retrieved January 15, 2018, from https://corporate.ford.com/company.html
Ford Motor on the Forbes Top Regarded Companies List. Retrieved January 15, 2018, from https://www.forbes.com/companies/ford-motor/
Meyer, P. (2017, February 5). Ford Motor Company: Generic & Intensive Growth Strategies. Retrieved January 15, 2018, from http://panmore.com/ford-motor-company-generic-intensive-growth-strategies