Friday, June 14, 2019
Price Strategie of Ford Fusion Hybrid Research Paper
Price Strategie of Ford Fusion Hybrid - Research Paper ExampleThe face up research has identified that Ford has launched Ford Focus Hybrid car keeping in mind the continual rise in the price of ordnance and the overt health conscious that global society has become. This situation is ideal since people ar looking for such crossbred cars and carmakers are ready to attach the opportunity to improve their financial health. Toyota has already launched a few hybrid cars and has captured a majority portion of the market. Ford, as a result, has to keep the price of its hybrid fusion in such a way that it can meet its objectives. It is found that the price of Ford hybrid Fusion is set at save over $27000 which is almost $3000 more than its Toyota counterpart. Hence, it can be said that the main objective of such pricing is to gain as much profit as possible in other words, this pricing strategy of Ford is profit oriented. Flexibility is an important element in the overall pricing strate gy. Flexibility is provided in terms of discounts, customization, and negotiation. Like any other cars of Ford, a customer can place their customized order on the companys website. Prices are set on the basis of specifications of the customers. Discounts are given to promote the car to some special customers. However, rebates or discounts vary with region. Consumers have little power to negotiate regarding the price of the product. but customers i.e. dealers have the power to bargain with the manufacturer. Pricing strategies vary with the different stages in the product life rhythm method. Usually, there are four different stages in the life cycle of a product. These are introduction, growth, maturity, and decline. Ford Hybrid Fusion is at its growth stage where its demand is found to be increasing continuously as consumers are looking for more and more fuel-efficient car. In other words, sales growth is rapid at this stage.