Evaluation of Kia’s Current Marketing Strategy and Marketing Mix
Introduction
Kia Motors Corporation (KMC), founded in 1944 is Korea's oldest manufacturer of motor vehicles. Today, the Corporation is part of the 4th largest automotive group in the world, having exported over 5 million cars to more than 155 countries around the world. Kia’ goal is to become a top 5 volume car brand. In order to achieve this status they must increase their market share, both fleet and retail, break through into the corporate fleet sector and sell over 100,000 cars a year.
KIA has four key focus areas. Firstly, to deliver quality cars and services so that they are recognised by the media and their customers. Secondly, to become a challenger brand through building a compelling and differentiated, yet fun and dynamic image for the Kia brand. Thirdly, to create a professional dealer network by supporting the development of their dealer partners with better facilities, better people and better processes. Finally, to deliver excellent customer experiences; by ensuring that every contact customers have with the company is enjoyable and memorable
Marketing strategy
Kia’s marketing strategy is designed to answer two questions; firstly, which customers will need to be served? And how value for customers will be created? The first one will be answered through the process of segmentation and targeting and the second one through the process of differentiation and positioning. Kia uses data from surveys such as NCBS (New Car Buyers Survey) and TGI (the world’s leading provider of marketing and media surveys) to gather information about consumers, such as home, family life and attitudes, work and holidays, interests and activities, media, favourite brands and shopping, and their car. Based on this, Kia is able to segment the market using four segmentation variables: geographic, demographic, psychographic and behavioural.
Kia achieves geographic segmentation through its high-capacity plants outside Korea (headquarters), in the US, Slovakia and China.
Kia Motors Corporation (KMC), founded in 1944 is Korea's oldest manufacturer of motor vehicles. Today, the Corporation is part of the 4th largest automotive group in the world, having exported over 5 million cars to more than 155 countries around the world. Kia’ goal is to become a top 5 volume car brand. In order to achieve this status they must increase their market share, both fleet and retail, break through into the corporate fleet sector and sell over 100,000 cars a year.
KIA has four key focus areas. Firstly, to deliver quality cars and services so that they are recognised by the media and their customers. Secondly, to become a challenger brand through building a compelling and differentiated, yet fun and dynamic image for the Kia brand. Thirdly, to create a professional dealer network by supporting the development of their dealer partners with better facilities, better people and better processes. Finally, to deliver excellent customer experiences; by ensuring that every contact customers have with the company is enjoyable and memorable
Marketing strategy
Kia’s marketing strategy is designed to answer two questions; firstly, which customers will need to be served? And how value for customers will be created? The first one will be answered through the process of segmentation and targeting and the second one through the process of differentiation and positioning. Kia uses data from surveys such as NCBS (New Car Buyers Survey) and TGI (the world’s leading provider of marketing and media surveys) to gather information about consumers, such as home, family life and attitudes, work and holidays, interests and activities, media, favourite brands and shopping, and their car. Based on this, Kia is able to segment the market using four segmentation variables: geographic, demographic, psychographic and behavioural.
Kia achieves geographic segmentation through its high-capacity plants outside Korea (headquarters), in the US, Slovakia and China.
References: 1. Wells C., 2011. Discussion on the marketing strategy and plan of Kia [conversation] (Personal communication, 11th April 2011) 2. Kia Motors Corporation- Company Profile, Information, Business Description, History, Background Information on Kia Motors Corporation [online] Available at: http://www.referenceforbusiness.com/history2/74/Kia-Motors-Corporation.html [Accessed 19 April 2011] 3. Kia Motors, 2011. Current Kia brand audience definition [leaflet] 4. New York: Monthly Review Press, 1993."Kia Motors in Positive Mood on Rising Sales, ' South China Morning Post (Web Edition), April 14, 2011 5. [Accessed 18 April 2011] 6. Corporate Social Responsibility [online] Available at: < http://www.kiaoval.com/about/csr> [Accessed at 10 May 2011] 7. Sports Sponsorships. [online] Available at: http://www.kia.co.uk/About-Kia/Sport%20Sponsorship.aspx [Accessed 10 May 2011]