Name : Divya Sriram Raghavachar
Class and section : III semester A section
Register number : 10BBM20068
HONDA COMPANY INFORMATION
Honda is headquartered in Minato, Tokyo, Japan. The company has assembly plants around the globe. These plants are located in China, the United States, Pakistan, Canada, England, Japan, Belgium, Brazil, New Zealand, Indonesia, India, Thailand, Turkey and Perú. The company's car models include the Accord, CR-V, Civic, Element, and Ridgeline, as well as gasoline-electric hybrid versions of the Civic and Accord. Honda's line of motorcycles includes everything from scooters to superbikes. Honda is a company that meets and often exceeds the expectations of car buyers. Honda is one of the most interesting carmakers out there today with a strong devotion to their independence. Even without the deep pockets of other major players like GM and Ford, Honda continues to be innovative and they keep the pressure on major players in the automotive industry. Honda Motor Company is a Japanese multinational corporation primarily known as a manufacturer of automobiles and motorcycles. Honda has been the world's largest motorcycle manufacturer since 1959, as well as the world's largest manufacturer of internal combustion engines measured by volume, producing more than 14 million internal combustion engines each year. Honda is the sixth largest automobile manufacturer in the world. Honda was the first Japanese automobile manufacturer to release a dedicated luxury brand, Acura, in 1986. Aside from their core automobile and motorcycle businesses, Honda also manufactures garden equipment, marine engines, personal watercraft and power generators, amongst others. Since 1986, Honda has been involved with artificial intelligence/robotics research and released their ASIMO robot in 2000.
In order to identify oppurtunities and threats, a company must begin with a thorough understanding of the marketing environment in which the firm operates in. The environment of a company constitutes all the internal as well as external forces that have an existing impact on the business. Thought these factors vary depending on the specific company, they can de divided into 2 broad categories. Micro environment components which include the complany, suppliers, intermediaries, customer market, competitors and public. The macro environmental factors are : demographic, economics, natural, technological, political and cultural forces. The micro environment consists of factors within the company that have an influence on the running and operactions of the company. Micro environment influences the organization directly. The factors or an element in an organization's immediate area of operations that affects its performance and decision-making freedom is called as Micro Environment. These factors include competitors, customers, suppliers, employees and the general public. The above mentioned factors are explained below.
Honda has been successful in the market carving itself a well defined place in the motor market and not as well satisfying its customers but attracting more as the years go by. The company continuously keeps itself upbreast in the market developing and innovating its products as the marketing environment so changes. It has managed to develop and mantain a strong customer loyalty base network. Upgradations of features, new creative designs have been reasons to its successfull and replinishing growth. A key element in Honda’s success is its commitment to designing, engineering and building cars in all regions of the world.
Q1. Elaborately explain micro and macro environment with appropriate examples.
Honda micro environment:
Micro environment influences the organization directly. The factors or an element in an organization's immediate area of operations that affects its performance and decision-making freedom is called as Micro Environment. These factors include competitors,...