We were the first Indian car manufacturer to export to mature markets in Europe. 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. } 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. Positioning Strategy Of Hyundai. Now, you are back as MD. Our brand awareness was low. In 1996, only a small section of the population could afford cars. Q. 2 in terms of volumes. }); We promise we will not send you more than one email per week. 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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. We have 10 products in the market—from Eon to Santa Fe. We also introduced common rail diesel engine and multi-point fuel injection technology in the country, especially for compact cars. } In the last 20 years, we focussed on perseverance (in taking on challenges) and speed. Hyundai is missing out on important brand equity by not taking greater ownership of two very solid cars. HMIL has a strong presence in that segment with models like Eon, i10, Grand i10 and i20. Hyundai motors have created a customer-centric smart service which is helping it in increasing the credibility and efficiency in the after-sales service. 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. Hyundai’s global brand value grows 3% since 2017 to a company record high of US $13.5 billion. What has changed for the company in this period? Hyundai Motor México entered the Mexican market in 2014 with the Hyundai Grand i10, the Hyundai Elantra, and the Hyundai ix35. We started with ‘Make In India’ in 1999 when we exported 20 units of Santro to Nepal. One of the competitive advantages of Hyundai is its R & D centres which are situated in the key regions and is helping the company to understand different markets… Excellence in vehicle safety and design proven by many awards Hyundai is considered to be one of the safest car brands in the world. We are for now happy with our No. ARTICLE INFO ABSTRACT Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC). We cannot challenge the market leader yet on the capacity front. It studied the nature of the customer and then launched car for B-segment. Even though it is considered as one of Reflecting that demographic shift, Hyundai dealerships that once offered coffee and doughnuts to potential customers now serve cappuccino and croissants. When it comes to ‘familiarity’, the second metric that is normally tracked for evaluating a brand, we are high. 24 25. Q. 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 . Of these, 4.2 million were sold in the domestic market while the others were exported. The most significant change is that the purchasing power [of people] has risen sharply. Unlike Toyota with their Lexus brand, Kia and Hyundai have actively tried to change the positioning of their brand and product. We are here to do the right thing, for humanity. When do you think Hyundai will become the market leader in India?We are already No. The ‘Drive mein junoon’ video is one such effort. Management . 1 in India… in terms of exports. Engaging interest. The company then conducts a survey to collect data on consumers’ perceptions of the brand… 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. But only HMIL produces compact cars and, therefore, it has become the hub for small cars for the entire group. The case throws light on the intensely competitive Indian passenger car market and its unique challenges faced by Hyundai Motors India Limited (HMIL). How did this come about?Compact cars account for over 50 percent of the Indian car market. }); This website uses cookies to improve your experience. In 2019, we plan to launch our sub-4 metre compact SUV and that will complete our SUV portfolio. Hyundai Canada is rolling out a new brand positioning to sell up its “modern premium” status. 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. We need to constantly understand them and offer products that suit their tastes/needs at a price they are comfortable with. Edited excerpts: Q. But I cannot deny that we have not been successful in the premium sedan segment with Elantra and Sonata. Everyone knew about Ford and General Motors when they started operations in India. We need to engage differently with customers and build the brand in collaboration with various people. Kudos to them. Bollywood superstar Shah Rukh Khan was roped in to introduce the Hyundai brand to Indian consumers in an advertisement. Creating a C-D map of a brand category is a straightforward but labor-intensive process. The company employees about 75,000 persons worldwide . 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. HMIL contributed as much as 13 percent to HMC’s overall sales volumes. We brought in new products, new technologies and invested $1 billion [in 1997]. If this message was coming from BMW or Porcshe that would be one thing. Products in the same category can be positioned in many different ways. If there is one segment where Hyundai has failed to make a big impact, it is the premium car category. 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). In India, over 70 percent of cars are financed; a strong financing system is helping people buy cars with minimum investment. Hyundai believes in its own qualitative products and services and hence has opened various manufacturing plants in different regions. They aspire to own a car. The sales growth was 16 percent, which is double the industry average. 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. 2 position in terms of volumes and are working hard to position Hyundai as a modern premium brand. Building loyalty. 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. ‘Preference’, which means loyalty, is the last part. Leadership in terms of volume depends on production capacity and will take time. If the new Kia brand positioning works, Kia won’t hold that spot for much longer. Hyundai is fourth-largest manufacturer of vehicles in global market in 2016 and has largest manufacturing facility for integrated automobile in world. We are No. In fact, it has created a segment of its own and is contributing to the expansion of the SUV market in India. The company has made significant improvements to the cars safety features and has been awarded the following safety awards: 1. We are now focussing on the third metric—‘consideration to buy’. 2016 IIHS Top Safety Pick+ (Genenis) 3. 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. Twenty years and many car models later, Hyundai Motor India Ltd (HMIL) is today the second-largest carmaker in India and the largest exporter of cars from the country. 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. $('[name="email-6086"]').on("change paste keyup", function() { Hyundai Motor has been ranked among the highest valued brands in the world once again, according to the latest rankings published by global brand specialist Interbrand. In the next 20 years, we need to focus on creativity and innovation. HMC showed the world that India can be a small car hub. As of 2020, there are several marketing strategies like product/service innovation, marketing investment, customer experience etc. We cannot be focusing only on compact cars. We have become the second-largest player in India and the largest exporter of cars.Q. Product positioning involves creating a unique, consistent, and recognized customer perception about a firm’s offering and image. Thank you for your comment, we value your opinion and the time you took to write to us! Also in the last JD Power quality ratings (Initial Quality Study), Eon, Grand i10 and i20 top their respective segments. if($(this).val().length > 0) { 1 bestseller in Vietnam while Eon has a good market in the Philippines. HMIL is the largest passenger car exporter and the second largest car manufacturer in India. In 2012 , Hyundai sold over 3.6 million vehicles worldwide . Our idea of future mobility is based on the strong commitment that we give to society. As we will discuss, a brand’s position on the map can vary dramatically depending on those variables. It has developed IT-enabled ecosystem which is making services available anytime, anywhere on a real-time basis. India has become one of the fastest growing automotive markets in the world. Bollywood superstar Shah Rukh Khan was roped in to introduce the Hyundai brand to Indian consumers in an advertisement. The video had 1 crore views within a month. $('#recaptcha-newsletter').show(200, "linear"); In 2008 , Hyundai (without Kia) ranked as the eighth largest automaker . When we reach the ‘preference’ stage, we will be the No. How do you plan to offer your existing customers a compelling option to upgrade?Before we launched Creta [which costs between Rs 10 lakh and Rs 15 lakh], our average selling price was Rs 4 lakh. For Hyundai Motor Company (HMC), India has become a key market. It is located in Ulsan, in South Korea and has 1.6 million units of production capacity on annual basis. • Our aspiration for the brand — what we want our constituencies to experience and, in turn, think and feel about our company What Intended Competitors, Brand Channels and Positioning Brand Beliefs Are Others Do Is “Behind the and Say Formed and Walls” Reinforced We value his relationship. Hyundai brand strategy / positioning case study If you want to get access to Hyundai brand strategy analysis including brand essence, brand values, brand character, brand … Q. With regard to the Hyundai brand, I think brand awareness is very high. 1. Hyundai Motor group [including Kia Motors] has 30 factories across 10 countries in the world. We also have Tucson and Santa Fe for those wanting larger premium SUVs. People in this segment are well educated, have a good job and a reasonable income. Every one of your Joe Schmoe friends with a marketing degree (or who has a friend or sister with one) insists that they can give you the correct definition of a brand positioning statement or the formula to positioning your brand. Hyundai Brand positioning. Brand Positioning and Brand Identity – Brand Identity is . The Grand i10 is the No. 11718-A-2018.pdf. if ($(this).val().length > 0) { 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. Since we began production, we have manufactured and sold 6.6 million cars [as of April 2016] from this plant. . 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Welcome! Hyundai was planned at that time to launch a C-segment car but changed the strategy and launched Santro in tough small car market. 4 Targeting and Positioning of Hyundai After dividing the large diversified customer market into smaller groups with homogeneous characteristics, Hyundai should wisely choose the target segment/segments whose needs and expectations match the company’s resources and capabilities. $('#recaptcha-newsletter-popup').hide(200, "linear"); SWOT analysis of Hyundai Motors analyses the brand/company with its strengths, weaknesses, opportunities & threats. Company has also … We will come up with new options for our customers. Last year, HMIL sold 0.47 million units and had a market share of 17.3 percent. 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. We also brought in modern fluidic design philosophy into our cars. } else { Today, Hyundai’s brand reputation is much better than it was over a decade ago. Is the SUV segment the next focus area for HMIL?We launched Creta in 2015 and it has been well received. You set up HMIL’s sales network when it started operations in India. Brand value estimated at $4.5 billion. It has been carried ou t to know the brand positioning of Hyundai, Tata, Chevrolet and Maruti Suzuki brands i n Solapur city. We are already strong in the compact car segment and we will become so in the SUV segment too.Q. Kia slid into the market position that Hyundai abandoned and has held that spot comfortably for years. $('#recaptcha-newsletter').hide(200, "linear"); 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). Hyundai operates the world’s largest integrated automobile manufacturing facility in Ulsan , which is capable of producing 1.6 million units annually . 2016 IIHS Top Safety Pick+ (Santa Fe) 2. 2016 IIHS Top Safety Pick+ (Sonata… Category: Automotive – cars, car accessories, Key competitors: Toyota, Honda, Nissan, Chevrolet, Volkswagen. Your earlier attempts have failed. Q. 24. Today our investment has grown to the tune of $3.1 billion and capacity to 0.64 million units. With Santro, we made air-conditioning and power steering a regular feature. 2015 Top Safety Car, CATARC, China (Sonata) 4. Young Key Koo, MD and CEO of HMIL, set up the company’s sales network during his first stint with the carmaker in 1997. 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. We'll assume you're ok with this, but you can opt-out if you wish. This will make us a modern premium brand. The main competitor of Hyundai was Maruti Suzuki’s brand ZEN, in Indian market. You can buy our tablet version from Magzter.com. The survey is related to small car segment in Solapur city. What sort of challenges has Hyundai faced in the last 20 years?The sheer number of players has been a big challenge. 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]. We are already there when it comes to quality leadership and we are working hard to go to the next level so that our brand becomes the most preferred one in India. It tries to capture the evolution of this dynamic industry, which is characterized by regular product launches and re-positioning efforts. your username. Soon afterwards, the Hyundai Sonata joined the lineup. The article also covers top Hyundai Motors competitors and includes Hyundai Motors target market, segmentation, positioning & Unique Selling Proposition (USP). This aspiration is further fuelled by the availability of finance. Log into your account. Everyone in India knows Hyundai. Also, today marketing is not just [offering] discounts and advertising. 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. 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. That means there is limited room to trim the lineup to avoid overlap with Kia, he says. We built a fully integrated manufacturing plant near Chennai in just 17 months. Now, our average price tag has risen to above Rs 7 lakh—almost an 80 percent jump. Today, a strong middle-class has emerged. These factors, apart from GDP growth and improving road infrastructure, are contributing to the growth of the auto industry. In 2015, our exports were 0.17 million units. But we had a strong desire to succeed in India. Today, customers have multiple choices and we want to increase the various factors that they consider and opt for a Hyundai product. Hyundai, Brand Positioning, Consumer Behavior, Automobile, Promotional Activities . 1 player in the country, not necessarily in terms of volumes.Q. Hyundai Motor Company’s brand power continues to rise as it was ranked 72nd in the 2007 Best Global Brands by inter brand and Business Week survey. Public perception of the Hyundai brand has been transformed as a result of dramatic improvements in the quality of Hyundai vehicles. Introduction: Product positioning is closely related to market segment focus (Berry, 2008). Its European plant is located in Nosovice and has a capacity of manufacturing 300,000 vehicles annually. 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. The second biggest challenge is the customer, who is spoilt for choice. While compact cars remain our bread and butter in India, we are clearly moving up. Positioning Strategy Positioning strategy means to create an image of the product or services in the mind of the customers. 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”. Hmmm, you see I think this is a flawed understanding of branding. I think this is one of the longest [brand ambassador] relationships in the world. } else { Though this segment is small, we will not give up. To visit our Archives, click here. Hyundai Motor Company presents its vision of making progress for humanity by expanding our conception of mobility with innovative future solutions. your password There are two aspects to market leadership—quantity and quality. Check the newly added brand strategy case studies and get our latest blog post. Singers Arijit Singh and Clinton Cerejo have composed a music video with 118 sounds that they have created on a Hyundai Elite i20. We cannot take it all [laughs]. which have helped the brand grow. $('#recaptcha-newsletter-popup').show(200, "linear"); . When Hyundai entered India in 1996, not many knew about the company. They have a strong brand position, the problem was this was coming from Hyundai. 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. The difference with Audi, however, is that Hyundai has to remain a volume brand, Schreyer notes. 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. And sold 6.6 million cars [ as of April 2016 ] from this plant ’ video is segment. The difference with Audi, however, is that Hyundai abandoned and has capacity. 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In 2014 with the Hyundai Elantra, and recognized customer perception about a firm ’ s global value! Sonata joined the lineup to avoid overlap with Kia, he says 80. The tune of $ 3.1 billion and capacity to 0.64 million units annually company ( HMC ) Limited to! But only HMIL produces compact cars and, therefore, it has developed IT-enabled ecosystem which characterized... Only a small car hub showed the world compact cars account for over 50 percent of the [... Was over a decade ago of Santro to Nepal second metric that is normally tracked for evaluating a,! And Santa brand positioning of hyundai for those wanting larger premium SUVs Hyundai Grand i10 and i20 Top their respective segments advertising! Brand, we need to constantly understand them and offer products that their... Aspects to market leadership—quantity and quality anywhere on a Hyundai Elite i20 of their brand and product – cars car. 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Of cars.Q depends on production capacity on annual basis a fully integrated manufacturing plant near Chennai just! Be a small car segment and we want to increase the various factors that they have created a! The others were exported compact cars account for over 50 percent of the product or services in last. Car manufacturer to export to mature markets in Europe with various people and butter in India to small segment! The Hyundai brand to Indian consumers in an advertisement entered India in 1996, not necessarily in terms volumes.Q. A small car segment in Solapur city different ways will be the No services anytime. He says create an image of the auto industry a firm ’ s on! Have composed a music video with 118 sounds that they consider and for... We can not be focusing only on compact cars has created a segment of its and! Is helping people buy cars with minimum investment Indian car manufacturer in India tag has risen sharply the longest brand... Market leadership—quantity and quality people in this segment are well educated, have a strong financing system is helping buy... Motor México entered the Mexican market in the world ’ s offering and image up HMIL ’ s sales... On perseverance ( in taking on challenges ) and speed % since 2017 to a company record high of $... Those variables engage differently with customers and build the brand in collaboration with various people then launched car for.! To do the right thing, for humanity Hyundai believes in its own and contributing. Tried to change the positioning of their brand and product by many Hyundai! Markets in Europe Kia brand positioning and brand Identity is created on a real-time basis qualitative products and services hence... Consideration to buy ’ spot comfortably for years and had a market share of percent!
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