INTRODUCTION Perhaps the most distinctive skill of professional marketers is their ability to create, maintain, protect, and enhance brands. Branding is the art and cornerstone of marketing. The American Marketing Association defines a brand as: a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. Thus a brand denitrifies the seller or maker. “What distinguished a brand from its unbranded commodity counterparts is the consumer’s perceptions and feelings about the product’s commodity counterparts is the consumer’s perceptions and feelings about the product’s attributed and how they perform. Ultimately, a brand resides in the minds of consumers. A brand can be better positioned by a associating its name with desirable benefits. 1
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INTRODUCTION
Perhaps the most distinctive skill of professional marketers is their ability to
create, maintain, protect, and enhance brands. Branding is the art and
cornerstone of marketing. The American Marketing Association defines a
brand as: a name, term, sign, symbol, or design, or a combination of them,
intended to identify the goods or services of one seller or group of sellers
and to differentiate them from those of competitors. Thus a brand denitrifies
the seller or maker.
“What distinguished a brand from its unbranded commodity counterparts is
the consumer’s perceptions and feelings about the product’s commodity
counterparts is the consumer’s perceptions and feelings about the product’s
attributed and how they perform. Ultimately, a brand resides in the minds of
consumers. A brand can be better positioned by a associating its name with
desirable benefits.
A brand is much more than a name, logo, colors, a tagline, or symbol .
These are marketing tools tactics. A brand is essentially a marketer’s
promise to deliver a specific set of feature, benefits and services consistently
to the buyers. The marketer must establish a mission for the brand and a
vision of what the brand must be and do.
Brand nodding occur when customers experience the company as delivering
on its benefit promise. The fact is that brands are not built by advertising
but by the brand experience. Brands vary in the amount of power and value
they have in the marketplace. At one extreme are brands that are not known
buy must buyers then there are brands for which buyers have a fairly high
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degree of brand awareness. Beyond this are brands with a high degree of
brand acceptability.
We define brand equity as the positive differential effect that knowing the
brand name has on customer response to the product or service. Brand
equity results in customers showing a preference for one product over
another when they are basically identical. The extent to which customers are
willing to pay more for the particular brand is measure of brand equity.
A brand needs to be carefully managed a so that its equity does not
depreciate. This requires maintaining or improving brand awareness,
perceived quality and functionality, and positive associations. These tasks
require continuous R and D investment, skillful advertising, and excellent
trade and consumer service.
History of Passenger cars in India:
The passenger car in India has been considered as luxury item. Only a rich
and the super rich could afford a car. In the 50’s and 60’s owning a car was
the ultimate statement of having made it in life. There were just 3 major
players namely Hindustan motors, Premier Automobiles and Standard
Motors.
The models they offered were the Baby Hindustan, its later version called
the Ambassador, the Fiat 1100 and the Standard Herald, which fought for
market share in a fairly stagnant market. The Ambassador and the Fiat were
the front-runners with the coming of the third.
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There were other players in other segments like the Wily Jeep and Mahindra
& Mahindra offerings. The late 70’s saw a movement to produce a people
car an attempt to bring the less rich into the fold of the more fortunate ones.
And so a seed was sown called the Maruti 800.
About the Company
HYUNDAI MOTOR COMPANY
A number of players have come in the car industry in few years, many new
models, new services and benefits according to the customer taste and
preference.
A new category continuous to be dominated by the leader like Maruti
Udyog, Hyundai, Daewoo, Fiat, Suzuki, Tata etc., but the consumers may
soon be able to pick up the models of different companies.
In recent years passenger’s car chassis construction has been forced to shape
itself redesigned bodies. While in the field of truck design, body chassis
problem now get simultaneous consideration to a greater extent than ever
before. Cars provided the facility to the owners that are safe, easier to drive,
more reliable and comfortable.
IMPORTENCE OF THE STUDY
The motive of the any company is to generally acquire larger market share
high % of sales the Industry, This could be only achieved by building a
higher % of brand loyal customers.
Any company can survive through there is a stiff computational the market
if its has brand loyal customer. Today many major companies in the market
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if its has brand loyal customers. To day many major companies in the
market try to maintain and improve there branded equity. With out creating
a proper Brand awareness they cannot build brand image.
Strong brands help build the corporate image and also by making it eager for
the companies launch new brands. Today brands are treated, as major
enduring assets of a company-more over brand equity are major contributor
to customer equity. This all can happen only there is proper brand
awareness.
The light four wheeler industry has been expanding rapidly are gone the day
when possessing a small and mid-size cars was seen as a luxury. Now days
it is viewed s a mere necessity.
Scope of the Study
The overall scope of the present study considers all the variables and factors
that have major impact over the customers in considering particular brands.
This especially included how a customer regally evaluate recognizes the
brand and what position particular brand occupies in the customer mind.
This includes how a customer gets attracted towards the brands and what
makes a brand highly significant over their competitive brand. The study
includes how hand awareness among potential customers can be maintained
and improves.
The project has been done in Pune city only. The survey was confined only
to Hyundai customers to presently posses only Santro. The survey was
especially focused on existing Santro owners for finding how they are
influenced by the brand and what made them aware of the brand. After the
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survey was done the data was analyzed and also relevant suggesting were
made in order to improve its brand awareness towards Santro
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COMPANY PROFILE
Hyundai Business Group is a South Korean company, which entered into
business activities way back in 1947 seeing the rapid industrialization and
modernization-taking place around the world. It brought an international
recognition to its country through its operations round the world and paved
its way to modern economic growth.
Hyundai group is composed of 50 subsidiaries like Ship Building,
Engineering & Construction, Heavy Industries, Machinery, Iron and Steel,
Electronics, Aerospace, Telecommunications, Information and Technology,
as well as Financing petrochemicals energy trade and service sectors.
In 1960’s it involved in the construction industry. In 1970, it concentrated on
shipbuilding, automobile, steel and machine industries and laid a foundation
for Korean heavy industry. In 1980, it launched high tech industries such as
electronics robot petroleum, space and aircraft. In 1990, developed new
technologies reformed management and stressed training human resources,
with the aim to become the No.1 Corporation in the world.
AYS Automobiles Pvt, Ltd., started the dealership of Hyundai cars at
Rajahmundry for West Godavari Districts April, 1999. So far, AYS sold
about 309 Santro’s and 100 Accents and 2 Sonato’s. The company’s
turnover till date is around 16 crores.
The company has earned an amount of Rs. 72 lakhs by way of dealer
margins and sale of spares & accessories; by earning profit in the first two
years of operations.
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The workshop is equipped with the latest technology equipments as per
Hyundai specifications and is contributing Rs. 25 lakhs of revenue to the
company. The total value of Machinery & Equipment is worth Rs. 25 lakhs.
The workshop also has an emergency road service to attend complaints 24
hours a day anywhere in the territory. The show room is on the NH-5 and is
designed as per the Hyundai Motor India’s standard pattern and is well lit to
display the cars.
HYUNDAI MOTOR INDIA LIMITED
Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of
Hyundai Motor Company, S. Korea and is the second largest and the fastest
growing car manufacturer in India. HMIL presently markets over 18 variants
of passenger cars across four models, the Santro in the B segment, the
Accent in the C segment, the Sonata in the E segment and the Terracan in
the SUV segment. The company recorded combined sales of 150,741 units
during calendar year 2003 with both Accent & Santro emerging leaders in
their respective segments.
HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai
boasts some of the most advanced production, quality and testing
capabilities in the country. The company is investing an additional US$ 220
Mn to expand capacity at this plant to 250,000 units a year in line with its
recent designation as HMC’s global export hub for small cars and to cater to
its upcoming product launches India.
HMIL has sold over 500,000 cars in a record time of just over 5 years since
commencement of commercial production in September 1998 and is all set
to emerge as one of largest exporters of passenger cars and components out
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of India. HMIL was recently awarded the benchmark ISO 14001
certification for its sustainable environment management practices.