Ford

Definition

Ford is a global automobile manufacturer based in the United States that has played a significant role in the automotive industry, notably for revolutionizing the production process with the introduction of assembly lines. This innovation not only made cars more affordable but also influenced manufacturing practices across various industries.

Related terms

Assembly Line: A manufacturing process in which parts are added to a product in a sequential manner to create a finished product faster than traditional methods.

Global Trade: The exchange of goods and services between countries, which Ford participates in by selling vehicles and sourcing parts on an international scale.

Market Segmentation: The process of dividing a broad consumer or business market into sub-groups based on shared characteristics; Ford uses this strategy to target different consumer needs and preferences with various vehicle models