Though Hyundai is present in India only for a decade , it currently owns a market share of 14 % of Indian Automotive sector . They focused on the look of the car , feature style & design. Hyundai Santro are the focused car for lower segment. While i10 and i20 focussed on above 5 lacs segment..Their prices are higher than it’s competitors within the same segment but Higher prices are justified by giving a better look , investing highly in advertising & promotion , providing good features . There are many factor that decide their pricing :
i. Market & Occasions -
ii. Costs incurred
iii. Dealer Margin
Other considerable factors which affect the pricing strategies of Hyundai are: Packaging and Innovation:
Hyundai invests 5% of their revenues in R&D to secure world-leading quality,marketability an technology .They have set up their new R & D center in Hyderabad. Their fourth overseas R & D center. This also stress that how important Indian market is to them .This 200,000 square-foot facility set up with an investment of Rs. 184 crores, , is aimed at further accelerating local content development and to enable Hyundai to respond even more quickly to changing customer needs across the world. They package product has a combination of elegance and functionality to the customers Advertising, Sales Promotion and Public Relations:
Hyundia Motors car emphasizes on the features and look of their car. They have tried to build a band equity by roping Mr .Shah Rukh Khan as their brand ambassador almost since their start of operations in India. His star power was used for catapulting sales of Hyundai Santro . Then with the launch of Hyunda Santro Xing. As for now , his pairing with model Ms Urvashi Sharma is used for promoting i10. According to article (http://business.outlookindia.com/printarticle.aspx?101517 )- Mr Shah Rukh Khan takes about Rs 6 crore for 2 minute commercial . This shows that Hyundai allocate high...