Ansoff Matrix - Product Development

Topics: Marketing, Hyundai Sonata, Hyundai Motor Company Pages: 2 (516 words) Published: June 11, 2012
Ansoff Matrix

Product Development

Each company relies on a marketing strategy to advance themselves in the race for achieving marketing success. It is without doubt that companies have implemented a few effective of others and perhaps of their own according to the company business. The strategy which is surely utilized in most or all companies would be the Marketing Mix by Neil Borden and the business strategy of Ansoff’s Matrix Strategy. Without strategies like these, companies would cease to improve or attain achievement in a business as a company. A marketing strategy helps take account of the preparations needed before releasing a certain business product or service. This is due to avoid any mishaps or losses in the company hence reducing the risk in the company business. As some may know, Hyundai was introduced to the business world as a group of companies founded in 1947 at South Korea. Hyundai was better known by their division in the Motoring Company from manufacturing automobiles and exporting them around the globe. The Hyundai Motor Company division gained recognition over their achievement in being the world’s fifth largest automobile manufacturer by volume as of the year 2009. Early last year, Hyundai Motors has outdone themselves with the dramatic change in designs for both the Hyundai Sonata and Tucson released in 2010. Furthermore, Hyundai has moved forward not only in the new design of a few of their cars but have also stepped into a new development of creating technology for the driver’s convenience of operating the vehicle’s features and enhanced safety integrated with the manufactured vehicles. This year in 2011, Hyundai launches the all-new BLUE LINK® TELEMATICS PLATFORM. Blue Link is a combination of safety; service and infotainment all in a complete package that works to both help simplify Hyundai owners' lives and reduce distracted driving. It is a product development of multiple services made available in Hyundai vehicles to...
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