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Final Year Bba (H) Study Paper on “Marketing Strategy of Automobile Company in India” Submitted By FINAL YEAR BBA (H) STUDY PAPER ON “MARKETING STRATEGY OF AUTOMOBILE COMPANY IN INDIA” SUBMITTED BY: NAME: SUBHOJIT DOLUI (15405015055) KOUSTAV CHATTERJEE (15405015014) SUVRA KANTI CHOWDHURY (15405015063) YEAR: 3RD (THIRD) SEMESTER: 6th SESSION: 2015-18 COLLEGE: DINABANDHU ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT UNIVERSITY: MAULANA ABDUL KALAM AZAD UNIVERSITY OF TECHNOLOGY, WESTBENGAL contents 1.TOPIC 2.ACKNOWLEDGEMENT 3.INTRODUCTION 4.OBJECTIVE 5.COMPANY PROFILE 6.COLLECTION OF DATA 7.ANALYSIS & INTERPRETATION 8.CONCLUSION 9.BIBLIOGRAPHY ACKNOWLEDGEMENT I take this opportunity in expressing the fact that this project report is the result of incredible amount of encouragement, co-operation and moral support that I have received from others . Words alone cannot express my deep sense of gratitude to Sohini Majumdar who provided me an opportunity to do a project on”- “MARKETING STRATEGY OF AUTOMOBILE COMPANY IN INDIA”. Her valuable guidance and support made this project work an enlightening educational experience. Her consistent support and co-operation showed the way towards the successful completion of project. I would like to express my deep sense of gratitude to all the members, who directly or indirectly helped me during my project work. INTRODUCTION Introduction of Auto mobile: The word ‘Automobile’ comes, via the French automobile from the ancient greek word (auto’s, “self”) and the Latin mobiles (“Movable”), means a vehicle that moves itself, rather than being pulled or pushed by a separate animal or another vehicle. The alternate name ‘Car’ is believed to originate from the latin word Carrus or Carrum (“Wheeled vehicle”), or the middle English Carre (“Cart”) (from old North French) By definition, an automobile or car is a wheeled vehicle that carries its own motor and transport passengers, as we know the automobile was not invented in a single day or by a single inventor. Today, Automobiles have become a crucial part of our lives, an extension of the human body that provides us faster, cheaper and more convenient mobility every passing day 6 the history of Automobile is very fascinating as it reflects an evolution of the Automobile that took place worldwide. Development: The history of the automobile actually began about 4,000 years ago when the first wheel was used for transportation in India. The automobile history begins as early as 1769, with the creation of steam engine automobiles capable of human transport. In 1806, the first car powered by an internal combustion engine running on fuel gas appeared, which led to the introduction in 1885 of the modern gasoline or petrol fueled internal combustion engine. Cars powered by electric power briefly appeared at the turn of the 20th century. Today in the 21st century we cannot think of our lives without transportation and the automobile industry. Distance is no more a matter with the invention of automobile. MARKET SHARE OF AUTOMOBILE LEADERS IN INDIA OBJECTIVE To find out the market strategy of Hyundai Motors that has helped them in increasing their market share by many leaps in last few years in the India Market. COMPANY PROFILE The Hyundai Motor Company was set up in 1967 as a subsidiary of the Hyundai Engineering & Construction Company. The company started off by assembling cars and trucks for the Ford Company in their car factory. In 1975 they produced their first car called the Hyundai Cortina which was produced in partnership with the Ford Motor Company. Within the next two years they had become the 13th largest automaker in the world with 2% share in the world retail market. In 1975, the company decided to build its own car which it would sell under the brand name ‘Hyundai’. They hired five of the best car engineers from Britain who designed their first car, ‘Hyundai Pony’. The car soon became the number one selling car in South Korea because of its small size and economical pricing. Next the Hyundai Pony entered the Canadian market and within 9 months became the top-selling car there. By 1985, their production had exceeded more than 1 million cars. In 1986, they entered the U.S. market with their new ‘Hyundai Excel’ car. This car also proved to be a best seller because of its quality and low pricing. In 1986 more than 160,000 units were sold and the next year it crossed 260,000. Now Hyundai had established itself as one of the top competitors in the world automobile industry. Their next release was the midsize Sonata in the year 1988. This model did not click in the U.S. market but by then Hyundai was already producing 4,000,000 units per year. Creta Eon (bestselling car) Verna Tucson Santro COLLECTION OF DATA Research design refers to the manner of conducting the research. The design of my research is exploratory which is qualitative in nature, and want to explore the various reasons that have helped Hyundai motors to reach to this success level. Research instrument refers to designing the instrument/questionnaire that will help to collect the data, and in our case we are focusing on secondary data only. ANALYSIS & INTERPRETATION • Hyundai Motor Co. is a South Korean automobile MNC which started its operation in 1967 and it never looked back. It is mainly in manufacturing and marketing of automobiles, commercial vehicles and engines in 195+ countries worldwide. • Being majorly in the economy segment, in many developing nations it is in leadership positions while in some it is in 2nd position. Due to stagnant growth rate, fuel price volatility, government regulations and environmental conditions; automobile industry is facing downturn and that’s why the company like Hyundai is focusing on satisfying customer needs through improving in product performance, design & service Hyundai uses behavioral &psychographic segmentation variables to segment the market in homogeneous groups. It is majorly in an economic segment (Eon, I10) and is entering the premium segment through its offerings in SUV’s (Creta Tucson) segment The current bestselling car is Hyundai Eon Differentiated targeting strategy is used by Hyundai to target the customers and satisfy their needs and wants. Positioning is the most important aspect that is driving the market forces. Hyundai uses a mix of product & value-based positioning strategies to create an experience for their customers rather than just selling its products. Competitive advantage in the Marketing strategy of Hyundai Motors Hyundai motors have created a customer-centric smart service which is helping it in increasing the credibility and efficiency in the after-sales service. It has developed IT-enabled ecosystem which is making services available anytime, anywhere on a real-time basis. One of the competitive advantages of Hyundai is its R & D centre which are situated in the key regions and is helping the company to understand different markets & changing customer preferences. Hyundai group is operating in-vehicle segment, financing segment, and R & D segment and it is helping the company in aligning the main line automotive business with the company’s vision. Distribution strategy in the Marketing strategy of Hyundai Motors Hyundai is making its offerings available to the market through its 6,000 showrooms & dealerships. Hyundai is going through a paradigm shift in delivering the value proposition through Hyundai Motor studio, a new setup of showrooms creating customer engagement opportunities & delivering revolutionized brand experience. Customer analysis in the Marketing strategy of Hyundai Motors Customers of Hyundai are the middle-income group who want to purchase a car for family purpose and is looking for a value for money offering. SWOT ANALYSIS Strengths in the SWOT analysis of Hyundai: 1. Hyundai Motor India has such brand equity that it is almost assumed to be an Indian brand, with lot of good accolades for being India’s second most selling brand next to MUL in market share 2. Hyundai Motor India limited is the largest car exporter from Asian Market which showed a 10% growth compared to last FY (2017-18) 3. Hyundai has the largest network of showrooms and service station next to Maruti in India. Weaknesses in the SWOT analysis of Hyundai: 1. Hyundai doesn’t have any product match to compete in corporate orders like Tata Indica V2, Tata Sumo, Tata Indigo, Ford Fiesta etc. These vehicles are most preferred in both cab segment and government booking for bulk orders 2. Weak foot hold on large car segments. Opportunities in the SWOT analysis of Hyundai: 1. There is more scope of HMIL to increase its foot hold into small car segment as its has dedicated R&D plant in Hyderabad, India. Hyundai is one of the very few 2. companies that has widest R&D network across the world located in Korea, Europe, India, US, Japan. 3. To match corporate offers, Hyundai needs to work for effectively & efficiently to include this segment 4. As a major population in India is also looking for family car , this more SUV / Sedan cars should be introduced Threats in the SWOT analysis of Hyundai: 1. There are Indian players like Tata, Mahindra imposing a strong threat for Hyundai Motors India to expand its product category 2. Almost all major automobile players have started invading India to open up their market and their manufacturing plant in India. 3. Many manufacturers have started to concentrate on small car segment as an alternative to Nano. These will slowdown the expected sales of Eon CONCLUSION Hyundai has taken over market share of maruti waganor and Daewoo motors (matiz) by establishing santro in Indian market and established the brand as Indian market and established the brand as Indian company appointing brand ambassador sharukh khan They recognized the strength biggest competitor Maruti which is affordable spare parts and extensive availability of service centre. They also started working in these path Once Hyundai established food world in the Indian market they realized that the key to a sustained growth and success in the Indian market would be its durability in rough Indian terrain.
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