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Hyundaicard’s Marketing Strategy

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Hyundaicard’s Marketing Strategy

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  • March 5, 2012
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Case study 2-HyundaiCard’s Marketing Strategy

Goal
Company’s goal was to strengthen its financial services,retail businesses and Internet fields

S.W.O.T. ANALYSIS

Strengths :
● Strategic alliance with GE Consumer finance (GECF)(gain cumulative expertise and Know-how, upgrade of creditability and financial stability) ● Unique, customized service via alphabet card marketing activities ● 12 finance shops ( all-in-one shop)

● Differentiated marketing based on consumer lifestyle ● High sales volume per cardholder in comparison with the competition ● Enhanced Internet system environments and integrated customer relationship management ● Extensive use of online and offline channels to collect customer information

Weaknesses:
● Latecomer (low customer counts)
● Web traffic website was low
● Low brand awareness
● Weak marketing communication
● Weak card services

Opportunities:
● Cooperation with a well-known financial institution
● Cross-selling services
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● Legislation that supports the use of credit cards
● Alliances with well-known global brands (e.g. Wall-Mart, Tesco) ● Multi-functional credit card combined with conglomerates ● Credit card was the most common mode of paying products and services ● Credit card web sites gained nationwide popularity

Threats:
● Korean credit cards Crisis
● Downsizing of company’s operation
● Tough competition from leading card players
● Constantly changing domestic market
● Non-compatibility with US market

Customer Segmentation
1. General
2. Low
3. Middle
4. High

1) How could Hyundai Card, a market follower, successfully position itself as a market leader? ● the alliance with GECF, through which gained cumulative expertise and know how ● segmentation strategy

● usage of websites (on-line marketing campaigns)
● strengthening of internal...