Ford F150 Electric

Please 825 words to the attached paper not including three additional references.
Required Sources: Be sure to use current APA format, and include in-text citations for the following sources: All sources have to be 2017-2022. Discussion must be in current APA format and must include a reference list. Reference sample make sure to include DOI-Drollinger, T., Comer, L. B., & Warrington, P. T. (2006). Development and validation of the active empathetic listening scale. Psychology & Marketing, 23(2), 161-180. https://doi.org/10.1002/mar.20105 Please use instructions attached as well.

ANSWER

Ford F150 Lightning Electric Truck

Introduction

The Ford Company has been one of the most recognized companies in the automotive industry. Currently, the automotive market is full of foreign and domestic competitors. Ford has been struggling to remain competitive. Ford has automated the production facilities and has grown into a large franchised dealer globally. However, the company has been facing huge threats and challenges from well-capitalized competitors getting into the tech and automotive industry. Through launching new car models and several marketing approaches, Ford has earned an excellent competition base which has contributed to its survival. However, the future looks uncertain for Ford, which has led to shifting its strategy from selling several vehicles to sport utility vehicles and trucks. Ford has focused on a disruptive marketing plan for the new Ford F150 Lightning Electric Truck.

Disruptive Marketing Plan for New Ford F150 Lightning Electric Truck

A disruptive marketing plan entails creating a new marketing model that is not typically practiced by businesses. Disruptive marketing gets the target market’s attention by being different and taking risks. The disruptive marketing plan will allow the company to turn the marketing rules upside down, change the perception, and rethink the brand and the industry as a whole. Like any other market, the perceptions and needs of customers keep on changing, forcing the company to change its approaches to remain competitive (Crick & Crick, 2020). For instance, people focus on their social needs and how well a product can satisfy them. In the current society, there have been changes linked to classes created through which individuals of the high class buy fancy things to maintain their status (Wirtz & Fritze, 2020). A disruptive marketing plan has to focus on customer needs. For instance, many trucks have storage at the back.

One example of disruptive marketing is the Ford F150 Lightning Electric Truck launch. This Truck was designed to disrupt the traditional way trucks are marketed and sold, which has traditionally been through large dealerships with extensive dealership networks. The new Ford F150 Lightning Electric Truck is a game-changer in the truck market. With a sleek, futuristic design, the Ford F150 Lightning Electric Truck is sure to turn heads and get people’s attention. The Ford F15O Lighting Electric Truck has been designed to be a 4-5 door passenger (Kollmeyer & Sarlioglu, 2012). The Truck is an electric car that brings in novel adventures as clients to be environmentally sustainable. The Truck has been chosen as a brand that will change the market approach.

The TruckTruck has been a disruptive brand that creates unique encounters for clients and is considered innovative through incorporating technology as an electric powertrain. The new Ford F150 has storage at the front, making it easy for the users to travel with more luggage due to the extra storage space. Additionally, the TruckTruck is beneficial to the users since they can save on fuel since they only have to charge the car, which can be sustained for three days.

Marketing is more sufficient when a product sells itself through word of mouth, where clients refer products to the clients. The Ford F150 Lightning Electric Truck took a different approach, introducing a more direct-to-consumer model where buyers could purchase the Truck directly through an online store or at select events hosted by the company itself. By taking this approach, Ford was able to better meet the needs and desires of its customers while also cutting out unnecessary costs associated with running an extended network of dealerships.

Disruptive marketing can help companies gain a competitive advantage by better connecting with their customers and offering a unique value proposition that sets them apart from the competition. When looking to launch a disruptive marketing campaign, it is important to think outside of the box and be willing to take some risks to stand out from the crowd.

Concerning the market segmentation, the TruckTruck has been the target of the general population, especially the truck lovers, as they bring into the market new features and more storage that Americans love. However, the company should target the high-class population who can easily afford the Truck considering the price tag listed by the company. The company can also target travelers who can consider the TruckTruck due to its features compared to its competitors. However, one of the greatest challenges is the price tag for the TruckTruck.

The pandemic has led to a high economic downturn affecting incomes and the affordability of expensive products. Most people have lost their jobs due to the pandemic (Raifman and Venkataramani, 2020). Ford should consider lowering the price to meet the needs of the people and increase their sales since the price has led to the target market purchasing trucks from their competitors. The company can lower its price through AI production and supply bargains to ensure that they get high-quality raw materials at low prices.

Conclusion

In summation, Ford has disrupted the automotive market through the new Ford F150 Electric Truck, which is in high demand. The TruckTruck is an attractive model acceptable in all the markets due to its features and efficiency. A disruptive marketing plan plays an essential in the growth of a brand and attracting new customers. Ford should continue differentiating their products through innovative features and competitive prices to attract new audiences and speed up its growth. The high price tag affects the demand for the new Ford F150. Ford should consider a competitive price to reduce and meet the customers’ demands.

References

Crick, J. M., & Crick, D. (2020). Coopetition and COVID-19: Collaborative business-to-business marketing strategies in a pandemic crisis. Industrial Marketing Management, 88, 206-213. https://doi.org/10.1109/itec.2012.6243511

Kollmeyer, P. J., Lamb, W., Juang, L. W., McFarland, J. D., Jahns, T. M., & Sarlioglu, B. (2012, June). Design an electric powertrain for a Ford F150 crew cab truck utilizing a lithium battery pack and an internal PM synchronous machine drive. In 2012 IEEE Transportation Electrification Conference and Expo (ITEC) (pp. 1-8). IEEE. https://doi.org/10.1109/itec.2012.6243511.

Raifman, J., Bor, J., & Venkataramani, A. (2020). Unemployment insurance and food insecurity among people who lost employment in COVID-19. MedRxiv. https://doi.org/10.1101/2020.07.28.20163618

Wirtz, J., Holmqvist, J., & Fritze, M. P. (2020). Luxury services. Journal of Service Management. https://doi.org/10.1108/josm-11-2019-0342