Hyundai motor company stanford graduate school of business. Its creative business model forecasted hyundaicard holders would be pre. Hyundai card marketing strategy strategic management credit. Besides doing penetration via television and radio media, hyundai card need to develop marketing strategy by wordofmouth and improve its online marketing strategy. Introduction hyundai cards, sponsored by hyundai kia automotive group, was established in 1999. So the next part of my plan was to increase everybodys salary by 10 percent. As of 2020, there are several marketing strategies like productservice innovation, marketing investment, customer experience etc. Formulation of product and brand building strategy is also a difficult task as the automobile companies has to recognize stage of the product in its lifecycle and then frame the strategies. Marketing mix of hyundai motors hyundai motors marketing mix. Thus, the key success factors of the hyundai card comprised of market segmentation, ecrm strategy, promotion development and the.
Marketing strategy in early stagepromotion warranty 2 years 24,000 miles 12. Marketing strategy of hyundai motors hyundai motors. Marketing strategies of hyundai motors india ltd project. Product and brand building strategies a study of hyundai. Focusing mainly on digital channels, the car company targets the generation ioniq. The korean credit card market has experienced a period of overheating due to a rapid expansion in the number of cards, reduced standards for. The strategy has led to great success, hyundai card received a number one ranking in the koreas national customer satisfaction index. Hyundai card on the power of brand translation and the beauty of.
The results of this analysis are presented in separate discussions related to target market and marketing mix. Product and brand building strategy is a part of marketing strategy and it plays an important role in the success of automobile companies. Pdf a case study on winwin marketing strategy making project. Selected as koreas most respected enterprise established strategic alliance with ge consumer finance. The marketing strategies aimed at increasing the frequency of use of the card with an aim to increase its profit.
The primary consumer target is middle to upper income professionals, who need value for their money and comfortable ride in city conditions. An ebook reader can be a software application for use on a computer such as microsofts free reader application, or a book sized computer that is used solely as a reading device such as nuvomedias rocket ebook. They joined in as the market follower, challenging the highly competitive credit card industry in korea. The authors of this book are consumers, as is everyone reading this text. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. Camp ii wrote this case solely to provide material for class discussion.
The companys powerful competitive edge comes from not only a differentiated business model, but its creative marketing strategy that puts its. Hmc entered india by establishing its wholly owned subsidiary hyundai motors india limited hmil in 1996. Marketing mix of hyundai analyses the brandcompany which covers 4ps product, price, place, promotion and explains the hyundai marketing strategy. Hyundaicards marketing strategy harvard case study solution and hbr and hbs case analysis. Hyundaicards marketing strategy chan soo park and ronald d.
Hyundai canada adopts modern premium global positioning. Take advantage of great offers on our most popular vehicles. Hyundaicard focused on its customer needs, developed new credit card products, and provided different online marketing campaigns. Gahee yoon competitive advantages of what made hyundai card no. The strategy followed by hyundai card for marketing. The productmarket diversification strategy that is applied by hyundai is typical for chaebol and has seen major development through the years. Hyundai marketing mix 4ps hyundai marketing strategy. Setting up athome 240volt charging through amazon home services is quick and simple. Introducing hyundai complimentary maintenance on all new 2020 hyundai vehicles. Despite the huge success of the creative business model is based on customer needs, innovative products and the. The case presents a description of the jv between ge money and hyundai cardhyundai capital from its inception through 2006 when the ventures success in korea led to thoughts of international expansion, raising the question of how the entity should be branded. Hyundai motor company, as many of you may have read by now, will launch its own global luxury brand in december, dubbed genesis. Her research focuses on strategy in domestic and international markets, public. Marketing strategy is defined by david aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage.
In 2001, hyundai card had the worst performance in the industry. Hyundai card hangul is a credit card company under hyundai motor group. Marketing strategies of hyundai by ishaan jain on prezi. The secondary consumer target is college students who need style and speed. Hyundai card travel library, opened in may 2014, is filled with 15,000 books and. Hyundaicards marketing strategy case solution and analysis. Hyundai cards marketing strategy yourhomeworksolutions. Hyundai motor group acquired diners card as a subsidiary and changed the cards name in 2001 to hyundai card. The feel the feeling campaign is a collection of films inspired by. Despite the huge success of the creative business model is based on customer needs, innovative products and the integration of online and. Hyundai outlines the social strategy driving its latest new car launch cmo dean evans shares how the carmaker builds out its social campaigns and offers insight on hyundais new. In 2005, hyundaicard formed a strategic alliance with gecf part of ge. Hyundai global marketing strategy linkedin slideshare.
The automobile industry market globally is very competitive with each major player launching new models to gain the market share. Hyundai card case study credit card credit finance. Hyundaicards marketing strategy management study cases. Hyundai card focuses on customer experience with personalized. Companys strategy focus is to have a diversified and stable funding portfolio. This paper is a case study of hyundai card companys recent marketing efforts to build and manage the relationships with their strategic small. In may 2003, the company introduced its signature hyundai card m, followed by a series of alphabet cards. After leadership changes within hmc, the company focused on improving quality as well as its image in the united states. The authors may have disguised certain names and other identifying information to protect confidentiality. Remote work advice from the largest allremote company. Hyundai is also implementing a new marketing strategy around the new vehicle family. My business is a financial service for private business owners.
Findings the choice of branding strategy is determined in the conditions under study by five antecedent factors and three moderating variables, which are. Hyundai card presentation marketing strategy strategic. Analysis of the marketing strategy with focus to hyundai santro stp segmentation, targeting, positioning porter 5 force model swot analysis ps of hyundai motor india ltd. Competitive strategies of hyundai card by gahee yoon on prezi. The closing reflections deal with the multiregional strategy of hyundai. In 1995, hyundai motor group acquired diners club korea, changed its name to hyundai card in 2001. The diversification of hyundai on a geographic and product level has already been discussed on conceptual bases concerning the geographic aspect and practical bases concerning the product level.
Consumer marketing credit cards market analysis market segmentation marketing management. Our smallest suv with city smarts and style to match. So, hyundaicards largest shareholders became hyundai motor 31,6% and ge consumer finance 43%. Hyundai cards marketing strategy essay 2310 words cram. Marketing strategy in early stageplace glocalization system alabama factory in montgomery. Hyundaicard entered the competitive korean credit card industry in 1999 and branded itself as hyundai m card see exhibit 2. Hyundai recognises the potential of promotional activities and hence has always gone for different and varied marketing strategies to create positive brand awareness. Its customer segmentation strategy focused on its customer needs. Hyundai marketing strategy is differentiated marketing. In year 2012, company started a brand campaign globally that emphasised on its modern premium thinking process. This paper aims to comprehensively clarify the methods it uses to gather.
Hyundai card marketing strategy free download as word doc. Hyundai has sound strategy to succeed in luxury market. Marketing strategy in early stagepromotion warranty 11. Hybrid, electric, plugin hybrid and hydrogen fuel cell. Pepsico and hyundai, have enteredand been successful inrapidly emerging markets. The other challenge was whether the current hyundaicards marketing strategy could give it a competitive advantage in the market place and what future marketing strategy could best suit hyundaicard.
Taken to the extreme, consumers may take on significant credit card. Hyundai cars, sedans, suvs, compacts, and luxury hyundai. Marketing strategy in early stageprice market penetration strategylow price policy 1986, hyundai, excel 10. Hyundaicards marketing strategy harvard case solution. Evaluation and assessment internal analysis customer value proposition. Hyundai canada has unveiled a new campaign that brings its marketing in line with its modern premium global positioning three new video ads from hyundai agency innoceans canadian office launched this week bearing the tagline new thinking, new possibilities. Finding a balance between regional relevance and global branding. The eight oscar ads that hyundai ultimately aired are part of a bold advertising and marketing initiative thats helped boost the south korean companys fortunes during one.
The primary business target is mid sized to large sized corporates that. The company provides credit card products and services to its customers in korea. Being majorly in the economy segment, in many developing nations it is in leadership positions while in some it is in 2 nd position. To promote n series, hyundai partners with rga and old spice director tom kuntz for a series of ads that poke fun at luxury consumption. Hyundai card history hyundai entered competitive south korea credit card industry. Marketing strategies hyundai the case discusses the marketing strategies of korea based hyundai motor company hmc in india. Hyundai motor companys selective focused local adaptation strategy from the perspective of global marketing eiko tomiyama hiromi shioji abstract the number of vehicles produced and sold worldwide by hyundai motor company is rapidly increasing. Many people and analysts say that the most efficient strategy of hyundai cards success was innovative design. Regardless of a extremely successful inspired business model based on client demands, advanced products and.
Below is the pricing strategy in hyundai marketing strategy. Hyundai exported a total of 560,169 units, up % from the 1995 figure of 494,479. Hyundai card hangul is a credit card company under hyundai motor group headquartered in seoul, south korea. But wordofmouth strategy must supported by service excellence and maximal customer experience so hyundaicard can enhance the brand power of premium cards. Globalization, firm organization and interfirm market relations exports are the engine of the contemporary korean motor vehicle industrys success. The marketing approach includes a digital hub, compatible with different devices such as smartphones, tablets and computers.
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