Innovation In Product Development

Paper Summary:

This paper examines innovation in product development, particularly focusing on the Ford Auto Company. It considers primary auto industry (global) drivers, along with the corresponding generic marketing strategies and key success factors that the major suppliers should possess, if they are to be successful. The paper also discusses the rationale contributing to Ford's 2000 globalization plan, along with Ford's performance over the period 1994 to 2004 and it looks at potential future marketing strategy (or strategies) for Ford. Copies of original sources are appended to the paper.

Table of Contents:
Auto Industry Drivers
A Strong Product Lineup
Tough Cost Performance
Marketing Strategies
Examples
Ford's 2000 Globalization Plan
Ford's Product Development from 1994 to 2004
Potential Future Marketing Strategy (or Strategies) for Ford
Ford's Current Innovations

From the Paper:

"Ford contends that its fresh and strengthened product portfolio helped the company improve its net pricing in 2007. Ford reported that although it currently faces cost pressures on raw materials persisted, its tough cost performance contributed to contribute to its overall business fundamentals becoming stronger ("Ford Motor Company" 2008)."
"As rigorous environmental standards in developed countries, such as the US and Western Europe, increase the need for more fuel-efficient cars, smaller, more fuel-efficient cars will join the ran of drivers for the auto industry" ("Small Car Market" 2008). Another trigger for this market increasing is that fact that during the coming decade, auto market experts contend that most of the growth in the global automobile industry will evolve from emerging economies such China, India, and Eastern Europe."

Sample of Sources Used:

• "ADVISORY/New WRI Study Documents Competitive Re-Alignment In Global Auto Industry", Business Wire, 28 October 2003. Available from: < http://www.highbeam.com/doc/1G1-109350435.html > 3 April 2007].
• Brodesser Akner, Claude. "Ford snares star role in return of 'Knight Rider'." Automotive News, 21 January 2008. Available from: < http://www.highbeam.com/doc/1G1-173810687.html > 3 April 2007].
• "Ford Motor Company at Merrill Lynch Geneva Global Auto Conference - Final", Fair Disclosure Wire, 4 March 2008. Available from: < http://www.highbeam.com/doc/1P1-150379429.html > [3 April 2007].
• Ford Motor Company 1991-2004 2008 Available from: < http://media.ford.com/newsroom/feature_display.cfm?release=20299 > 3 April 2007].
• Krisher, Tom Associated Press Writer. "Ford Embarks on New Marketing Strategy", AP Online, 3 May 2006. Available from: < http://www.highbeam.com/doc/1P1-122911074.html > [3 April 2007].

More papers on Innovation In Product Development:

• Article Review # 146204 : "Consumer Innovativeness and Product Development"
• Dissertation or Thesis # 75073 : "Knowledge Management:a Tool For Efficient Product Development"
• Term Paper # 96533 : "New Product Development"

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