Situation Analysis/Target Market Identification Report for Ford Falcon Ute
5383 words 22 pages10850 Marketing 100 Sem 1 2013 SA/TM ID Report Cover Sheet
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There are many competitors with similar products in the market, for example the Holden Ute, Nissan Ute, Mazda Ute and many more. On the other hand, when a customer has had their heart set on a product which they had spent so much time researching on, they might prefer to wait, especially since it would be a significant investment. The FFU has been in the market since 1961 (Hammerton 2012). Ford produces all types of vehicles which range from cars, sports utility vehicles, commercial and performance. The FFUs are known to be fast, reliable and durable. The FFU is different to competitors because of the stylish design and the reputable brand name that has been in the market for more than 50 years.
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1.2 Current Price The FFU exists in a monopolistic competitive environment. It is the market where lots of sellers exists to offer similar products and sellers have to differentiate themselves using branding, quality and features of the product (Martin 2012). Sellers also use prices to differentiate themselves from the competitor. Price makes an impact to the demand of vehicles as the FFU cost a significant amount. If a FFU costs A$40,000 and if the price of the FFU decreases by 10%, it will be a discount of A$4,000, which makes it a very good deal where demand will most likely increase. On the other hand, if the price of the FFU increases by 10% it will mean that buyers will now have to pay A$44,000 for exactly the same