Hyundai Assan Marketing Team’s Performance in 2003-2004 - Business Assignment Help

Assignment Task:

Abstract

In this case we see Hyundai Assan revisiting its marketing mix elements between 2003 and 2004 in order to change its poor consumer image with potential customers who have no direct experience with the brand. Hyundai Assan in Turkey has combatted its previous poor image by analyzing its product portfolio, making necessary changes in its pricing strategy, as well as backing up its dealers and running three different campaigns in 2004 in order to alter the unfounded consumer perception. As a result, Hyundai Assan, after having roughly 5.0–5.5% market share between 1999 and 2003, has succeeded in increasing its market share in passenger cars and light commercial vehicles to 9.3%, becoming the fourth highest selling car manufacturer in Turkey in 2004. This case clearly shows us that if a company has a marketing problem, all elements of the marketing mix need to be revisited individually, rather than just running a new advertising campaign. If brands have a deep marketing problem, then running a new campaign does not treat the inherent problem at all, but rather acts like an aspirin for an unresolved headache. This deep review of marketing elements can only be achieved with professional teams who believe in marketing wholeheartedly and make marketing talk in every sense.

Learning Outcomes

By the end of this case study, students should be able to:

• Learn that marketing mix elements need to be considered as a whole. It is important to note that each and every marketing element, whether it be product, price, place, or promotion, all interact with each other, having an influence on all other elements, as well as being influenced by them, in return.

• Learn that in marketing discipline, consumer perception is everything. Brand owners should try to understand what the consumer perception is. This perception could be in line with the brand’s objectives or it could be totally out of range. Either way, it should be handled very delicately. If this perception is not correct, instead of ignoring it, marketing teams should address the misperception openly and try to correct it by convincing consumers. Sometimes marketing teams take the easy way out when they are faced with an incorrect consumer perception and say “that is not true.” This approach is detrimental for the brand and could lead to catastrophic results. Therefore, especially wrong perceptions should be addressed in a very open manner, as we will see in the Hyundai case below, and dealt with before they become destructive to the brand.

• Have an understanding about volatile market conditions, especially in emerging countries such as Turkey and how business environments can differ in these countries compared to more stable economies of the world. This case gives them an opportunity to tackle an economic crisis, without living through one in real life. Therefore, students get a chance to practice decision-making processes in different business environments.

Hyundai Assan Marketing Team’s Performance in 2003–2004

Hyundai Assan started taking new actions in the market to end the vicious cycle, beginning in the second half of 2003. They started site visits, travelling all around Turkey, talking with dealers, trying to understand their needs, their wants, as well as their worries and problems. They assigned special significance to markets outside of Istanbul. Because automotive sales potential in Istanbul were far above any other city in Turkey, traditionally car makers usually concentrated their efforts in Istanbul. Hyundai decided to swim against the stream by paying more attention to cities outside of Istanbul than its competitors. These site visits proved to be very useful. Talking to dealers all around the country, they realized that 2004 was probably going to be another boom year for passenger cars, after sales had been postponed for three consecutive years. Therefore, they made allowances for a growing car market in 2004, while making their sales forecasts and placing orders. If their forecasts proved to be correct, 2004 would be a hit year for Hyundai. They would not be out of stock. Also, no doubt some of their competitors would be caught with low or no stock and this would also bring some extra sales for Hyundai. But if they were wrong? Mehmet did not want to think about this option.

In addition, Hyundai reconsidered each and every element in the marketing mix from product to promotion and started revisiting all marketing mix elements in the second half of 2003 into 2004. Before they started running the teaser for their “Not an Illusion, Hyundai” campaign in March 2004, they took a series of steps on the marketing front (Vardar, 2007).

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