Sample Essay
The Ford Company has to put in place many strategies if it were to succeed in the market. The price reduction in manufactured cars is one of the measures the company can take. This move will target the developing world given the low per capita income and purchasing power of the consumers.
Based on the assumption that the market growth rate trends will remain as anticipated, the new venture can improve customer service, after sales service and therefore create a brand loyalty among the new markets (Kotler, 1999). The company will therefore be required to open manufacturing plants in the existing and new markets in order to get a cost advantage which it can use to reduce the selling price.
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