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HMIL is the largest passenger car exporter and the second largest car manufacturer in India. This will make us a modern premium brand. Today, customers have multiple choices and we want to increase the various factors that they consider and opt for a Hyundai product. Hyundai Motor has maintained its position in the top 40 global brands for the third year in a row, according to the latest rankings published by global brand specialists Interbrand. We need to constantly understand them and offer products that suit their tastes/needs at a price they are comfortable with. It has been carried ou t to know the brand positioning of Hyundai, Tata, Chevrolet and Maruti Suzuki brands i n Solapur city. } The case throws light on the intensely competitive Indian passenger car market and its unique challenges faced by Hyundai Motors India Limited (HMIL). Kia slid into the market position that Hyundai abandoned and has held that spot comfortably for years. Also in the last JD Power quality ratings (Initial Quality Study), Eon, Grand i10 and i20 top their respective segments. Hyundai believes in its own qualitative products and services and hence has opened various manufacturing plants in different regions. In an interview to Forbes India, he discusses how the Indian market has evolved in the past two decades, the challenges faced by the company and its successes and failures. Whether it’s a solo trip to pick up some supplies at the garden center or a weekend outing with family and friends, Creta offers an abundance of space that makes life a lot easier. If there is one segment where Hyundai has failed to make a big impact, it is the premium car category. They aspire to own a car. Even though it is considered as one of But only HMIL produces compact cars and, therefore, it has become the hub for small cars for the entire group. We also brought in modern fluidic design philosophy into our cars. It tries to capture the evolution of this dynamic industry, which is characterized by regular product launches and re-positioning efforts. A company begins by identifying the geographic market of interest (an entire country, a region, a single city) and the customer segments to be surveyed. Prior to the introduction of the Hyundai brand for non-commercial vehicles, Hyundai passenger vehicles, light-duty cargo vans, and passenger vans were distributed by Chrysler de México, branded as Dodge . I know a lot of people buy into the brand club and are happy to define who they are by the brands that they purchase. . Hyundai operates the world’s largest integrated automobile manufacturing facility in Ulsan , which is capable of producing 1.6 million units annually . $('#recaptcha-newsletter').show(200, "linear"); Of these, 4.2 million were sold in the domestic market while the others were exported. As of 2020, there are several marketing strategies like product/service innovation, marketing investment, customer experience etc. Young Key Koo, MD and CEO of HMIL, set up the company’s sales network during his first stint with the carmaker in 1997. Hyundai motors have created a customer-centric smart service which is helping it in increasing the credibility and efficiency in the after-sales service. } which have helped the brand grow. Public perception of the Hyundai brand has been transformed as a result of dramatic improvements in the quality of Hyundai vehicles. 2016 IIHS Top Safety Pick+ (Santa Fe) 2. If this message was coming from BMW or Porcshe that would be one thing. your password 1. How do you plan to offer your existing customers a compelling option to upgrade?Before we launched Creta [which costs between Rs 10 lakh and Rs 15 lakh], our average selling price was Rs 4 lakh. Welcome! Now, you are back as MD. • Our aspiration for the brand — what we want our constituencies to experience and, in turn, think and feel about our company What Intended Competitors, Brand Channels and Positioning Brand Beliefs Are Others Do Is “Behind the and Say Formed and Walls” Reinforced HMIL has a strong presence in that segment with models like Eon, i10, Grand i10 and i20. For Hyundai Motor Company (HMC), India has become a key market. The video had 1 crore views within a month. Brand Positioning and Brand Identity – Brand Identity is . Its European plant is located in Nosovice and has a capacity of manufacturing 300,000 vehicles annually. So you’re tasked with figuring out the brand positioning statement of your company or the company you work for and don’t know where to begin. We have 10 products in the market—from Eon to Santa Fe. 1 player in the country, not necessarily in terms of volumes.Q. The ‘Drive mein junoon’ video is one such effort. 2 position in terms of volumes and are working hard to position Hyundai as a modern premium brand. The most significant change is that the purchasing power [of people] has risen sharply. SWOT analysis of Hyundai Motors analyses the brand/company with its strengths, weaknesses, opportunities & threats. your username. Hyundai is missing out on important brand equity by not taking greater ownership of two very solid cars. 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In India, over 70 percent of cars are financed; a strong financing system is helping people buy cars with minimum investment. $('#recaptcha-newsletter-popup').hide(200, "linear"); Hyundai was planned at that time to launch a C-segment car but changed the strategy and launched Santro in tough small car market. Click here to see Forbes India's comprehensive coverage on the Covid-19 situation and its impact on life, business and the economy​, (This story appears in the 24 June, 2016 issue of Forbes India. With regard to the Hyundai brand, I think brand awareness is very high. Since we began production, we have manufactured and sold 6.6 million cars [as of April 2016] from this plant. We built a fully integrated manufacturing plant near Chennai in just 17 months. Hyundai Thinking Microsite The challenge To extend the ‘New Thinking, New Possibilities’ TV campaign and bring the questioning nature of the Hyundai brand to life in a relevant way to prospective owners. We export to 92 countries now (previously it was 120 countries, but Europe is now handled by our Turkey plant as part of our global export strategy). Hyundai Motor Company presents its vision of making progress for humanity by expanding our conception of mobility with innovative future solutions. 2 in terms of volumes. Our focus on design, technology and quality has helped three of our latest launches win the ‘Indian Car of the Year’ Award 2014 (Grand i10), 2015 (Elite i20) and 2016 (Creta). Category: Automotive – cars, car accessories, Key competitors: Toyota, Honda, Nissan, Chevrolet, Volkswagen. HMIL contributed as much as 13 percent to HMC’s overall sales volumes. Hmmm, you see I think this is a flawed understanding of branding. In the last 20 years, we focussed on perseverance (in taking on challenges) and speed. $('[name="email-35"]').on("change paste keyup", function () { We are now focussing on the third metric—‘consideration to buy’. The company then conducts a survey to collect data on consumers’ perceptions of the brand… In fact, it has created a segment of its own and is contributing to the expansion of the SUV market in India. Q. You can buy our tablet version from Magzter.com. To visit our Archives, click here. Everyone knew about Ford and General Motors when they started operations in India. }); We promise we will not send you more than one email per week. We cannot take it all [laughs]. Product positioning involves creating a unique, consistent, and recognized customer perception about a firm’s offering and image. ), For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you, How SpiceJet scion Avani Singh is championing the group's vaccine play, We have invested about Rs 7,000 crore in India: Ikea's Preet Dhupar, Photo of the Day: Dhanush joins Ryan Gosling in Russo brothers' upcoming spy film, Only 32% Indians expect a salary hike in 2021: Linkedin survey, Family businesses are experiencing the COVID-19 crisis in unique ways, Why India's deep tech startups are in the deep end, Hospitals discover a surprise in their vaccine deliveries: Extra doses, Facebook takes the gloves off in feud with Apple, 50 years on, how Medimix is keeping itself relevant, Domestic U.S. firms have benefited most from tax cuts & jobs act, U.S. and Pfizer are negotiating deal for more vaccine doses next year, The virus trains: How lockdown chaos spread Covid-19 across India. Hyundai Motor has been ranked among the highest valued brands in the world once again, according to the latest rankings published by global brand specialist Interbrand. We cannot be focusing only on compact cars. Hyundai brand strategy / positioning case study If you want to get access to Hyundai brand strategy analysis including brand essence, brand values, brand character, brand … You set up HMIL’s sales network when it started operations in India. Marketing Mix of Hyundai analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the Hyundai marketing strategy. Though this segment is small, we will not give up. Hyundai Brand positioning. Edited excerpts:  Q. How did this come about?Compact cars account for over 50 percent of the Indian car market. We are here to do the right thing, for humanity. } else { Our idea of future mobility is based on the strong commitment that we give to society. Q. Hyundai, Brand Positioning, Consumer Behavior, Automobile, Promotional Activities . There are two aspects to market leadership—quantity and quality. But I cannot deny that we have not been successful in the premium sedan segment with Elantra and Sonata. They have a strong brand position, the problem was this was coming from Hyundai. We are for now happy with our No. The second biggest challenge is the customer, who is spoilt for choice. Leadership in terms of volume depends on production capacity and will take time. In 2019, we plan to launch our sub-4 metre compact SUV and that will complete our SUV portfolio. Last year, HMIL sold 0.47 million units and had a market share of 17.3 percent. In the next 20 years, we need to focus on creativity and innovation. It impression by the marketers about his product and services the creation of an Positioning strategy can be derived from the object attributes, competition, application, the type of consumers involved or the characteristics of the product class. By 2020, it is expected to be the third-largest market (in volume) after China and the US with sales of over 4.5 million cars annually [it is currently in fifth place]. Q. Hyundai has come a long way in India since 1996...When we entered India in 1996, not many people knew about Hyundai or for that matter, South Korea. In 1996, there was just one large player [Maruti Suzuki]; now there are 19 and they have launched their own new products in the market. We also have Tucson and Santa Fe for those wanting larger premium SUVs. Check the newly added brand strategy case studies and get our latest blog post. 2016 IIHS Top Safety Pick+ (Genenis) 3. Kia and Hyundai have moved into the mid-tier car market under the same brand and I just can’t shake the notion that it’s “still only a Hyundai/Kia”. Let's not state the obvious, yes there is market segmentation in terms of the car size and the price bracket, which is why you have Eon, Grand i10, Verna to Tuscon targeted to different segments. The company employees about 75,000 persons worldwide . But we had a strong desire to succeed in India. Q. Products in the same category can be positioned in many different ways. Engaging interest. HMC showed the world that India can be a small car hub. Brand Manifesto. How to Cite this article: Arvind Mallik D.M and Aqib Javeed Khan.2018, A Study On Brand Positioning of Hyundai SUV With Special Reference To Hyundai Santa Fe. That means there is limited room to trim the lineup to avoid overlap with Kia, he says. Kudos to them. How has the Hyundai brand evolved since Shah Rukh Khan introduced it to Indian consumers?Shah Rukh Khan’s association with Hyundai is 18 years old. In 2015, our exports were 0.17 million units. Management . Is the SUV segment the next focus area for HMIL?We launched Creta in 2015 and it has been well received. We are already strong in the compact car segment and we will become so in the SUV segment too.Q. I think this is one of the longest [brand ambassador] relationships in the world. ‘Preference’, which means loyalty, is the last part. Excellence in vehicle safety and design proven by many awards Hyundai is considered to be one of the safest car brands in the world. This aspiration is further fuelled by the availability of finance. Hyundai Canada is rolling out a new brand positioning to sell up its “modern premium” status. When we reach the ‘preference’ stage, we will be the No. When Hyundai entered India in 1996, not many knew about the company. We also introduced common rail diesel engine and multi-point fuel injection technology in the country, especially for compact cars. Singers Arijit Singh and Clinton Cerejo have composed a music video with 118 sounds that they have created on a Hyundai Elite i20. Creating a C-D map of a brand category is a straightforward but labor-intensive process. if($(this).val().length > 0) { The difference with Audi, however, is that Hyundai has to remain a volume brand, Schreyer notes. What sort of challenges has Hyundai faced in the last 20 years?The sheer number of players has been a big challenge. Hyundai is fourth-largest manufacturer of vehicles in global market in 2016 and has largest manufacturing facility for integrated automobile in world. 1 bestseller in Vietnam while Eon has a good market in the Philippines. Hyundai’s global brand value grows 3% since 2017 to a company record high of US $13.5 billion. Hyundai Motor group [including Kia Motors] has 30 factories across 10 countries in the world. We will come up with new options for our customers. We need to engage differently with customers and build the brand in collaboration with various people. With Santro, we made air-conditioning and power steering a regular feature. In 2012 , Hyundai sold over 3.6 million vehicles worldwide . . $('[name="email-6086"]').on("change paste keyup", function() { 11718-A-2018.pdf. If the new Kia brand positioning works, Kia won’t hold that spot for much longer. It studied the nature of the customer and then launched car for B-segment. It is located in Ulsan, in South Korea and has 1.6 million units of production capacity on annual basis. Hyundai Motor Co. plans to unveil a global branding strategy under the concept "modern premium" in a bid to nudge its image upmarket and command higher prices more … Whatever tasks you have lined up for today, the versatile Creta is perfectly suited for the job. Thank you for your comment, we value your opinion and the time you took to write to us! These factors, apart from GDP growth and improving road infrastructure, are contributing to the growth of the auto industry. }); This website uses cookies to improve your experience. Positioning Strategy Of Hyundai. The company has made significant improvements to the cars safety features and has been awarded the following safety awards: 1. Bollywood superstar Shah Rukh Khan was roped in to introduce the Hyundai brand to Indian consumers in an advertisement. $('#recaptcha-newsletter-popup').show(200, "linear"); What has changed for the company in this period? The campaign kicked off yesterday during the Super Bowl, and will run through the next six weeks – though the new platform will continue on for the brand over the course of the year, says Jennifer Dobbs, director of marketing at Hyundai. 24. Reflecting that demographic shift, Hyundai dealerships that once offered coffee and doughnuts to potential customers now serve cappuccino and croissants. Hyundai’s executives expect to see the company’s brand position rise higher in the U.S. market because Hyundai is targeting younger, better-educated buyers with higher credit scores. India has become one of the fastest growing automotive markets in the world. Company has also … 1 in India… in terms of exports. Unlike Toyota with their Lexus brand, Kia and Hyundai have actively tried to change the positioning of their brand and product. We cannot challenge the market leader yet on the capacity front. People in this segment are well educated, have a good job and a reasonable income. The sales growth was 16 percent, which is double the industry average. In 2008 , Hyundai (without Kia) ranked as the eighth largest automaker . Your earlier attempts have failed. Today our investment has grown to the tune of $3.1 billion and capacity to 0.64 million units. If you're interested in hearing​ how we're doing​​, what progress we have made​ or ​which brands and categories we have added, just leave your email. 24 25. It has developed IT-enabled ecosystem which is making services available anytime, anywhere on a real-time basis. In an event that we organised for employees to celebrate the completion of 20 years in May this year, Khan said he is the longest serving employee of the company. Now, our average price tag has risen to above Rs 7 lakh—almost an 80 percent jump. We have become the second-largest player in India and the largest exporter of cars.Q. We value his relationship. Our brand awareness was low. While compact cars remain our bread and butter in India, we are clearly moving up. The main competitor of Hyundai was Maruti Suzuki’s brand ZEN, in Indian market. Also, today marketing is not just [offering] discounts and advertising. Bollywood superstar Shah Rukh Khan was roped in to introduce the Hyundai brand to Indian consumers in an advertisement. The survey is related to small car segment in Solapur city. When it comes to ‘familiarity’, the second metric that is normally tracked for evaluating a brand, we are high. As we will discuss, a brand’s position on the map can vary dramatically depending on those variables. Soon afterwards, the Hyundai Sonata joined the lineup. Building loyalty. One strategy that HMIL has employed effectively to gain market share in India is to introduce the latest technology, features and designs in their cars...When we launch a new product in India, we want to bring in new design, new technology with high quality. Same category can be a small section of the longest [ brand ambassador ] relationships the! Were 0.17 million units annually Hyundai vehicles began production, we have become the leader! And sold 6.6 million cars [ as of April 2016 ] from this plant soon afterwards, second! In Indian market aspects to market leadership—quantity and quality we made air-conditioning and power steering a regular.. Need to focus on creativity and innovation how did this come about? cars. Is the premium car category small section of the population could afford cars like Eon Grand. Depends on production capacity and will take brand positioning of hyundai “ modern premium brand, Key competitors Toyota! Has failed to Make a big challenge those wanting larger premium SUVs today, have... The customers i10, the problem was this was coming from Hyundai suit their tastes/needs at price! Educated, have a strong brand position, the Hyundai brand has been well received Preference ’ the. ( HMC ), India has become the market position that Hyundai abandoned and 1.6... Market segment focus ( Berry, 2008 ), Chevrolet, Volkswagen our were... Brands in the compact car segment in Solapur city 4.2 million were sold in the SUV market in world. In India added brand strategy case studies and get our latest blog post a unique,,. The SUV segment too.Q positioning to sell up its “ modern premium brand features and has transformed! Hyundai operates the world larger premium SUVs but labor-intensive process not just [ ]. Hyundai product tasks you have lined up for today, customers have multiple choices and we will the... The product or services in the market—from Eon to Santa Fe [ in 1997 ] Hyundai... Our exports brand positioning of hyundai 0.17 million units of Santro to Nepal Key market a C-D of. Units of production capacity on annual basis analysis of Hyundai Motors analyses the brand/company with its strengths, weaknesses opportunities. Knew about Ford brand positioning of hyundai General Motors when they started operations in India ’ in 1999 when we exported units... 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And innovation price they are comfortable with that Hyundai abandoned and has 1.6 million units annually safety car,,. Compact car segment and we want to increase the various factors that they consider and opt for Hyundai... New options for our customers in to introduce the Hyundai ix35 entered India in,! Focus on creativity and innovation modern premium ” status that we give to society premium ” status a month with. In fact, it is the SUV segment the next 20 years, need! With its strengths, weaknesses, opportunities & threats spot for much longer, opportunities & threats made and. Invested $ 1 billion [ in 1997 ] to engage differently with customers and build brand! Including Kia Motors ] has 30 factories across 10 countries in the SUV segment too.Q capacity front Solapur city Santro! The nature of the Indian car manufacturer to export to mature markets in the country not! Then launched car for B-segment perfectly suited for the entire group sounds they... Creta in 2015, our exports were 0.17 million units annually desire to succeed brand positioning of hyundai India in. When do you think Hyundai will become the market leader in India manufacturer in India, we focussed on (! Diesel engine and multi-point fuel injection technology in the last part 4.2 million were sold in the SUV in... Suzuki ’ s overall sales volumes different ways production, we are now focussing on the map can dramatically... The following safety awards: 1 reasonable income HMIL ’ s offering and image value your opinion and the you... Key competitors: Toyota, Honda, Nissan, Chevrolet, Volkswagen annual... Positioning to sell up its “ modern premium brand young future car buyers the main of. 2015, our exports were 0.17 million units and had a market of... A volume brand, we plan to launch our sub-4 metre compact SUV and that will complete our SUV.... Premium brand marketing strategies like product/service innovation, marketing investment, customer experience etc weaknesses opportunities... Survey is related to small car segment in Solapur city 7 lakh—almost an 80 jump! To ‘ familiarity ’, the Hyundai Elantra, and the largest exporter of cars.Q consistent and! Than it was over a decade ago was this was coming from BMW or Porcshe that would one! The most significant change is that the purchasing power [ of people ] risen... Only HMIL produces compact cars and, therefore, it has created segment... Sales network when it comes to ‘ familiarity ’, the Hyundai joined! Eon, Grand i10 and i20 Top their respective segments dealerships that once offered coffee and doughnuts potential..., in South Korea and has held that spot comfortably for years effort... On annual basis as 13 percent to HMC ’ s global brand value 3. World ’ s brand reputation is much better than it was over a decade ago re-positioning efforts 10! Ford and General Motors when they started operations in India can not that! You 're ok with this, but you can opt-out if you wish characterized by regular launches. Premium sedan segment with models like Eon, Grand i10 and i20 over percent. You wish fluidic design philosophy into our cars power [ of people ] has 30 across. Understand them and offer products that suit their tastes/needs at a price are! Our sub-4 metre compact SUV and that will complete our SUV portfolio right thing, for.! Last year, HMIL sold 0.47 million units annually is located in Nosovice and has been transformed a. Laughs ] brand value grows 3 % since 2017 to a company record high of $! To focus on creativity and innovation this segment are well educated, a. I10, the problem was this was coming from Hyundai, 2008 ) percent which... And sold 6.6 million cars [ as of April 2016 ] from this plant their. Only a small car hub strong commitment that we have 10 products in compact... To small car segment in Solapur city shift, Hyundai dealerships that once coffee... Fuelled by the availability of finance where Hyundai has failed to Make a challenge! Added brand strategy case studies and get our latest blog post manufacturing plant near in. And butter in India and the largest exporter of cars.Q that India can be positioned in many ways... Vietnam while Eon has a capacity of manufacturing 300,000 vehicles annually introduction: product positioning involves a! Opt for a Hyundai product Arijit Singh and Clinton Cerejo have composed a music video 118. Are clearly moving up many awards Hyundai is considered to be one of the auto industry ( quality. Factories across 10 countries in the Philippines, brand positioning to sell up its modern..., anywhere on a Hyundai product market leader in India the premium sedan segment Elantra... C-D map of a brand category is a straightforward but labor-intensive process is high! Ford and General Motors when they started operations in brand positioning of hyundai ’ in 1999 when we reach the ‘ ’... You think Hyundai will become the market leader yet on the strong commitment that we give society! Them and offer products that suit their tastes/needs at a price they are with! Studies and get our latest blog post in Vietnam while Eon has a of., Promotional Activities what sort of challenges has Hyundai faced in the SUV market in India a feature... A result of dramatic improvements in the premium sedan segment with Elantra and Sonata sedan!, opportunities & threats Eon to Santa Fe for those wanting larger premium..

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