Sample Essay
With massive success of Ford Australia since its arrival into the Country in 1904, Ford has been enjoying being the market leader and had earned a good reputation all over Australia and other nations where its automobiles were being exported. The company today, faces serious challenge in order to survive and keep its market share in a right position. With the passage of time, technology has been transferred from company to company which has resulted in other automobile companies emerging in the market creating immense competitive environment in the market (Mitchell, 1987, p. 16).
Dominant Economic Traits of the industry:
Market Size
Industry is defined as the market in which a business is operating and a business before entering into a particular/specific industry tries to make sure that the particular industry has appropriate and favorable economic conditions to support the business activity. If the economic conditions are favorable then a business would definitely have better prospects in terms of making profits and generating higher revenues where as if economic conditions are not stable then chances of performing well are fairly limited (Darwin, 1986, p.19).
If a deeper and a more thorough look is given to the automotive industry in Australia, it can be concluded that automotive industry in Australia is pretty competitive and is considerably has a big market structure. From a long time since automobiles started manufacturing in Australia, many car manufacturers shifted their production and assembly plants in Australia. Such companies include Ford motor company, General Motors (Holden), International Harvester, Nissan, Chrysler, Toyota, Mitsubishi, Volkswagen and Leyland motors (Darwin, 1986, p.19).
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