Brand audit_Hyundai

$10.00

Category:

Description

Brand audit_Hyundai

ตารางแรกจะเป็นโจทย์ที่อาจาร์ยให้มานะหนูแนบให้พี่ดูด้วย

รบกวนพี่ช่วยทำ excutive summary and Introduction อย่างละ 150 คำ

ขอเป็นภายในวันพรุ่งนี้ ก็คือ ศุกร์ที่ 11 july ขอบคุณคะ

EXECUTIVE SUMMARY (150 WORDS)

This report clearly highlights the characteristics and unique strategies that Hyundai implements in order to maximize the company’s efficiency and success in the global market. The purpose of this report was to provide an accurate and precise audit on Hyundai which articulates how Hyundai has effectively positioned itself in the market. Each segment of the organisation is considered and reviewed in order to achieve a more reliable audit.

Each strength and weakness of Hyundai is identified through thorough research and analyse of the market. Hyundai’s opportunities, threats and future forecasts are also evident through annual reports and financial statements which articulate the performance and success of certain areas of the organisation. Overall Hyundai has become a top contender in the automotive industry due to the organisation’s efficient designs, marketing strategies and effective products which are increasing in popularity.

INTRODUCTION (150 WORDS)

Auditing companies is vital for establishing and identifying key strengths and weaknesses which can be utilized for strategic management. Hyundai is an automotive company that was established in South Korea. Hyundai Motor Group is considered to be the 4th largest automotive company in the world, with its main subsidiary Hyundai Motor Company being the 8th largest automaker in the world according the vehicle sales. Hyundai Motor Company was established much later than most of the leading organisations in the automotive industry and therefore must compete with companies that are much more experienced in the industry. Hyundai has however, grown at a very rapid rate, attracting its customers through reliability, affordability and unique designs. Although Hyundai has a small market share compared to other industry leaders, Hyundai is growing while many other competitors are declining in market share. Hyundai has great potential as the organisation is receiving numerous awards thus providing evidence of the company’s ability to compete with other global leaders.

BACKGROUNDS

  • Hyundai Group
  • Hyundai Group is a chaebol group founded by South Korean entrepreneur Chung Ju-yung in 1947. The first company in the group called Hyundai Togun was established in the same year and focus on engineering and construction. Since the late 1960s, the group started developing heavy industry and during the following two decades, it expanded into shipbuilding, automobile industry, machinery, cement production, transportation, and metallurgy and electronics industry at an astonishing speed. After the 1997 Asian financial crisis, the Korean government broke the group into five subgroups to diminish the influence of Chung family [ ].

    ......

    Brand audit_Hyundai
    Last updated: Feb 2024

    Page 1

    ded into shipbuilding, automobile industry, machinery, cement production, transportation, and metallurgy and electronics industry at an astonishing speed. After the 1997 Asian financial crisis, the Korean government broke the group into five subgroups to diminish the influence of Chung family [ ].

  • Hyundai Motor Company
  • After the group restructuring, Hyundai Motor Company, which was established in 1967 by Chung Ju-yung, became an independent company.

    Adhering to Chung’s idea that “turning automobile industry into an export-oriented pillar industry that boosting Korean economy”, the company regarded building brand power as its most important mission [ ]. Breaking away from the traditional image of a corporation as an entity motivated only by profit, Hyundai redoubled its efforts to become a company that honors customer support, wins trust through transparency and ethical management, and faithfully fulfils its social responsibilities [ ]. In 2003, the company exported over 1 million vehicles and surpassed the US$ 10 billion mark in export sales, and reinforced its place as a top-rated carmaker by winning the 2003 Global Automotive Shareholder Value Award presented by Price Waterhouse Coopers and Automotive News [].

  • Hyundai Sonata
  • As the most successful sub-brand/models developed by Hyundai Motor Corporation, Sonata has achieved enormous success both in the domestic (Korea) and overseas market. Since its first generation Hyundai Stellar’s launch in 1985, Sonata has experienced seven generations evolvement and sold in excess of 5 million vehicles in worldwide so far. [To be added]

    BRAND ATTRIBUTES

    Based on Keller’s (1993) Customer-Based Brand Equity Model, Sonata’s brand attributes can be divided into two types: intrinsic attributes and extrinsic attributes. Sonata’s intrinsic brand attributes, which include its rich performance configuration, fashionable style, streamlined design and not-quite-reliable quality, directly related to automobile’s essential ingredients and physical features that determine level of its performance. However, for high-involvement and durable products such as automobile, consumers are generally more familiar with extrinsic attributes while evaluating products. Therefore, Sonata can capitalize on its extrinsic brand attributes such as Korean engineering, relatively lower price and its “young, enterprising and vigorous” brand image to compensate the lack of quality.

    BRAND PORTFOLIO

    To cope with increasingly fierce competition in automobile industry, Hyundai Company has developed multiple brands in order to pursue different price segments, different channels of distribution, and different geographic boundaries. For example, Hyundai Verna was positioned as a low-end brand to attract those who pursuit less performance but favorable price, and the company also might expect to attract customers to its brand franchise and “trade up” customers to higher-priced brands. On the other hand, Hyundai Genesis, which focus on high-end market to appeal to image-conscious business people, was used to add prestige and credibility to the parent brand through its superior image. The Hyundai company adopted this multiple brands strategy with the intend to attract different types of buyer as well as yielding economies of scale in advertising, sales, merchandising, and physical distribution [ ].

    As a flagship brand developed by Hyundai Company, Sonata plays an all-around role that has developed a series of differently positioned models which covered various categories such as family sedan, sport utility vehicle and high-end business vehicle. The company seeks to market different models to appeal to different market segments. From the perspective of portfolio strategy, each generation also contribute to Sonata’s brand power in different ways. For example,…

    ...

    Brand audit_Hyundai
    Last updated: Feb 2024

    Page 2

    You've reached the end of your free preview.

    Want to read all pages?