Marketing Hyudai

Topics: Hyundai Motor Company, Marketing, Ford Motor Company Pages: 8 (2730 words) Published: June 24, 2013
Introduction

Since the invention of the automobile in 1886, one of the triumphs of the modern industrial age, the world's top five automakers have had just over a century to achieve their current level of technologies. Hyundai Motor Company's corporate history is much shorter. Chung Ju-Yung founded the Hyundai Engineering and Construction Company in 1947. Hyundai Motor Company was later established in 1967[1]. With the assistance of Ford Motor company, Hyundai Motor Company’s first model, the Cortina was released in 1968[1] [2]. In 1975, the company released their first Korean vehicle, the Pony with powertrain technology provided by Japan’s Mitsubishi Motors and the exports began in the following year to Ecuador and then to the Benelux countries [1] [2]. Starting from 1980’s Hyundai started exporting vehicles throughout Europe and the United States and in 1984, Excel was nominated as “Best Product #10” by Fortune magazine due to its affordability which was the first car that the company sold with front wheel drive[1][2]. The company began to produce models with its own technology in 1988, starting with the midsize Sonata [1]. In 1991, the company successively developed its first proprietary gasoline engine, the four-cylinder Alpha, and also its own transmission, thus paving the way for technological independence [1]. In 1996, Hyundai Motor India Limited (HMIL) was established with a production plant in Irungattukottai near Chennai, India [1]. During the late 1990’s, Hyundai underwent aggressive re-branding to become a more upmarket company by adding a 10-year or 100,000-mile (160,000km) warranty to cars sold in the United States [1][2] . Chung Ju-Yung transferred leadership of Hyundai Motor to his son, Chung Mong-Koo in 1999[1]. Hyundai’s parent company, Hyundai Motor Group, invested heavily in the quality, design, manufacturing, and long-term research of its vehicles. In year 2000, Hyundai began manufacturing the Santa Fe, a 4-door SUV that featured powerful front wheel drive and a front engine [2]. It was a huge success for the company on the American commercial market and it quickly became the company’s best-selling vehicle, it also garnered critical success winning various awards including Consumer Report’s “Top Pick” award in 2008 [2]. Recently, the company is focusing on releasing environmentally friendly vehicles with low CO2 emissions.

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Marketing goals
As a marketing manager, I have to ensure that customers' needs and wants are met whilst maximizing the profits of a company. Needless to say that customers are the most important such that Stew Leonard’s has created the “Disneyland of dairy stores,” Rule #1 – The customers is always right and rule #2 – If he customer is ever wrong, reread rule #1. This is Stew Leonard’s customers’ lifetime value and it is very popular among the marketers. Wants are the form taken by a human need as shaped by culture and individual personality while human needs are states of felt deprivation. Examples of human wants are a human needs food but he wants to eat eggs with bread and juice while another human needs food but he wants to eat sandwiches and a diet coke. Wants are shaped by one’s society and are described in terms of objects that will satisfy needs. We can find out their needs and wants by doing research and surveys. Finding the needs and wants of the customers will be the top priority for we will be able to find out how to promote new ideas that will suit the customers thereby maximizing sales. Examples are like some people do not know where to go and does not prepare a map, so we can install a GPS system in the car. Connections with customers are very important as they play a major role in the marketing business. Some customers do not have the knowledge to operate the product so workers of the company must have the ability to communicate with the customers so that any problem encountered by the...
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