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Final Exam

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Marketing Plan: Phase II
Stacie Bradley, Joshua Czygan, Teresa Flores, Michael Lucas, Shemika Savage
Marketing 421
April 29, 2012
John Brady
University of Phoenix

Ford Motor Company has been a fierce competitor in the auto industry and is emerging into a new market of complete electric transportation. In doing so the company must identify the target market and the needed segmentation criteria to do so. The organization should take into account, the different types of consumers of the Ford Pure EV, the influences of these consumers, and their competitors.
Identification of Target Market and Segmentation Criteria Market segmentation for the Ford Pure EV will define the possible target markets for the intended consumers. Market segmentation is defined as “a two-step process of naming broad market-products, and segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.” (Perreault et. al., 2011). Market segmentation will allow The Ford Motor Company to identify the needs of consumers, develop a marketing mix, and identify the target of each segment. The criteria for segmenting a broad-product market should include “homogeneous, heterogeneous, substantial, and operational markets” (Perreault et. al., 2011). The demographics of potential customer play a vital role in market segmentation. Some important demographic dimensions include criteria such as age, sex, income, location, and family size. Additionally, the process of aiming products at specific targets requires three basic methods; these include “single target market approach, the multiple target market approach, and the combined target market approach” (Perreault et. al., 2011). These methods will define clearly the target market for the Ford Pure EV. The basis of the target market for the new Ford Pure EV relies upon income, lifestyle, and family

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