Ford Motors was founded by Henry Ford in 1903 and now it is a multinational automaker with its headquarters located in Dearborn, Michigan. Ford has been able to successfully expand to other countries over the years and they position themselves as an automaker company which not only manufactures quality products but also improves and transforms people’s lives through the process.
Although the automobile industry is very competitive, Ford Motors has been able to maintain its position in the market for many years now and it has been able to achieve the brand equity around the world that they aimed for. The customers all around the world view their products as something of a very high quality and their cars as reliable and long-lasting. They have been able to achieve this brand equity because of many elements:
When we see the top list of automobile manufacturers around the world, Ford will definitely be on that list. This shows that even the people who have never driven or seen a Ford product, know about the company which says a lot about the awareness of the brand. Moreover, it is also ranked at number 39 in the list of World’s Most Valuable Brands. This shows that the brand awareness is very high, not only in the United States but around the world which definitely adds to their brand equity.
The value of Ford Motors is also very high in terms of brand loyalty and that is because they have been able to provide their customers with the promised quality and services. Ford Motors has been able to gain their customers loyalty and maintain long-term relationships with them because of their quality.
People view the products of Ford Motors as being of good quality. This image is what they have achieved and then retained over the years. While some of the competitors focus on producing more automobiles per year, Ford’s main strategy is to produce less with the best quality possible so that customer’s trust is never compromised. So customers perceive them of being of best quality and this image is also maintained by Ford through the passing years, thus increasing brand equity of Ford Motors.
Since the company has been in the industry for many decades now, it has been able to develop some assets throughout the years. To date, Ford Motors is a very strong company that works on the development of its automobiles so that innovative products are introduced. So, the biggest asset of Ford Motors is their development and research department which ensures that innovative products are produced which deliver quality, comfort and luxury to the customers.
Through their advertising efforts, Ford Motors has been able to develop a brand image due to certain elements. Since, their brand awareness is very high, most of the people recognize their logo which says a lot about their brand equity. Within these years, the brand has evolved through various different positioning strategies and recently they want their brand to be viewed as providing style with comfort.
All these factors recognize that Ford Motor’s brand equity is very high in a very competitive automobile industry around the world.
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