What do Ford Motor Company and CVS Pharmacies have in common?
Tom Dougherty, CEO – Stealing Share
2 February 2010
Ford knows so little about its target audience
According to The associated press —
Ford Jan. sales climb 25 pct; Subaru also rises
DETROIT – Ford Motor Co.’s sales rose 25 percent in January, buoyed by a stronger economy and Toyota Motor Corp.’s decision to halt U.S. sales of eight popular models because of faulty gas pedal systems.
If you ever needed more proof of the demise of auto industry brands and brand preference all you need to do is look at that first paragraph. Preference is apparently created because folks decided to buy any car and Ford won because Toyota halted sales.
“How is it that major companies like these – Ford, Toyota, Walgreens, CVS, RightAid and countless others – understand so little about their target audiences that they rely on the failure of the competition or a slightly more convenient location to attract customers?”
It reminds me of the power struggle going on in the US pharmacy business in which preference is apparently determined by which side of the road a pharmacy chain plops down its store on a corner with four other choices. Honestly, I just rode past an intersection with a Walgreens and a CVS Pharmacy on opposite sides of a street. Both had electronic signs running advertising crawls about being open 24 hours and touting the price of tissue paper. One said prescriptions would be ready in 15 minutes. I waited until the light changed hoping to see the other respond with a crawl of their own claiming “prescriptions ready in 14 minutes!”
How is it that major companies like these – Ford, Toyota, Walgreens, CVS, RightAid and countless others – understand so little about their target audiences that they rely on the failure of the competition or a slightly more convenient location to attract customers?
The bar is not all that high for companies that want to win.
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