Ford Mustang: Market Analysis

1231 Words Jan 6th, 2018 5 Pages
The Mustang was first introduced in 1964 and has become one of Ford's most iconic brands (Damian, 2006). Automobiles in general are a good subject for the study of branding because the car itself changes every year, but the brand does not. Over time, specific brands become associated with particular attributes, in terms of product category, positioning, price, and in the case of cars their styling, design and the lifestyle attributes that are associated with that vehicle. The Mustang has gone through roughly five iterations, and is currently in its fifth generation (Markus, 2010).

The Mustang is segmented by end user. Mustang buyers are typically male, and relatively young, with the company attempting to reach ever-younger segments of the market to ensure that the car maintains its market share (Greenberg, 2009). The company also uses special models in order to maintain interest in the Mustang among pony car aficionados, many of whom are older, are interested in collecting, and remember the Mustang's glory days in the 1960s. Thus, the bulk of Mustangs are sold to today's core target audience, but the company also uses the brand to market to some middle-aged and older males as well, in a more premium segment, where marketing is based primarily on nostalgia for the Mustangs of old, and the new cars that capture that aesthetic.

A sample person in the target…
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