Business Research & Analysis Plan For Market Readiness for Electric Paper

Business & Analysis Plan For Market Readiness for Electric Pick-up Truck for Ford Motor Company - Research Paper Example Hence, to be on the safe side, a company ought to become dynamic by ensuring that it moves alongside the changes as they come (LaPlaca & Frank, 2011). Ford is one of the most recognized companies when it comes to the issue of automobile production. The company has been in existence for decades; hence, it has a global recognition since its brand quite reputable. However, the emergences of new automobile companies such as Nissan, Toyota and Chevrolet have been quite a challenge since they have resulted to stiff competition. For instance, Nissan was the first company to come up with the idea of inventing electric vehicles. Ever since, the automobile business has been a buzz whereby each company is striving to come up with the best electric vehicle in a move to attract more clients (Sandalow, 2009). Due to the stiff competition, Ford Company is also competing to retain its lost glory. The company is in preparation of unveiling its first electric version of the F-150 truck (Goreham, 2014). Although this is a good move for the company, there are a number of factors worth considering before the company unveils the electric version of F-150 truck. The company should first perform a market analysis in a move to determine whether the product will receive more sales or not. Although the company usually makes a number of sales on its products, this will not be the case if the company produces an electric vehicle before considering some vital aspects such as the market challenges. Studies show that the electric vehicles are still not as popular as those that depend rely of gas (Bigman, 2012). This is because to date, it is easier to locate a gas station than it is to find an electric charging station. It is therefore evident that most people will not purchase the electric vehicle since they will have problems when it comes to recharging. It is therefore essential that before the company unveils its new product, it should ensure that it first addresses