Word: mustangers
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...People Side. As with the Mustang, much of the credit for whatever gains Ford can make with its new models belongs to Lee Iacocca. "I see this as the start of a new golden age for Ford that will make the peaks of the past look like anthills," he says. Iacocca has had a Ford in his future almost literally since birth...
Thus the most important selling job that Lee Iacocca did at Ford was to get the Mustang going. The project started quietly in January 1961 when Don Frey, a bright young engineer whom Iacocca had made his product planning manager, asked the advance styling department to draw up designs for a little sports car. When it produced a trim clay model of a little two-seater that looked like a rocket, Iacocca invited Grand Prix Driver Dan Gurney and other racing buffs in to give their opinions. Recalls Iacocca: "All the buffs said, 'What...
...Mustang," Lee Iacocca said at this week's premiere on the World's Fair grounds in New York, "Ford has actually created three cars in one." Aside from the basic $2,368 model (which is not so basic; it comes with bucket seats, padded dash, and leatherlike vinyl upholstery), anyone who wants to turn his Mustang into a little Thunderbird can load it with just about every luxury option Detroit has, from automatic transmission to a big V-8 to air conditioning. Finally, the sports-car purist who wants performance and more horsepower can spend...
...Shrine. Having been burned so badly with the ill-fated Edsel, whose styling it unaccountably failed to market research before its introduction, Ford this time conducted 14 studies on the Mustang, ranging from interviews with Monza owners to name and pricing studies. Its staff of 20, the industry's largest, found, among other things, that the car's outside appearance ranks first with the under-25 crowd and that four seaters are preferred 16-to-l among sports-car owners...
...auto executives still rely principally on their own intuition, using market research only to back it up-as Iacocca finally did in the case of the Mustang. "There are a lot of markets out there," says Iacocca, sweeping his hand at the panorama of flat Michigan countryside that he can see through the glass wall of his fifth-floor office. "My most important role here is to tell my top management how I view these markets, and how we want to respond to them. When I am finally convinced that there is a market for a new kind...