Submitted by: Submitted by fishjj
Views: 427
Words: 6586
Pages: 27
Category: Business and Industry
Date Submitted: 01/23/2013 02:43 AM
Hyundai Motor Company: Will they become #1?
Executive Summary
Hyundai Motor Company is one of 153 companies that comprise the Car and Automobile Manufacturing industry. It holds an 11.4% world automobile market share, ranking it #4 among top companies, and has had the fastest and largest growth out of all of the companies in the industry in the last five years. Despite a brand overhaul and some marked improvements, consumer perceptions of the Hyundai brand are misaligned to the message that Hyundai is trying to convey.
Who is Hyundai? Hyundai markets one main motto: “New Thinking. New Possibilities”. Their company overview on their website delves more deeply into this. This image can be divided into seven different but related segments: quality, technology and innovation, design, safety, built in the USA, environment, and social responsibility. They believe that they challenge convention, and that this allows them to find “a better way”.
What do people think of Hyundai? While some people recognize the growth and strides toward improvement that Hyundai has exhibited, many still hold Hyundai’s old reputation of poor quality to be true. Both primary and secondary research show that people’s perceptions of Hyundai are that while the company has a great warranty and is affordable, the cars are ultimately cheap, low quality vehicles.
How can Hyundai overcome this discrepancy?
• Change persistent negative perceptions about the company
• Lead in innovation
• Market to the right customers
Our primary and secondary research centered around finding out, essentially, what people think about Hyundai. Our survey data probed into people’s perceptions of Hyundai, their motivations for buying or not buying a Hyundai, and what would change their perceptions and/or buying habits. In-depth interviews with Hyundai and Toyota dealers exposed similarities and differences between what the dealers believed Hyundai to be “selling” and what Hyundai believed it is...