Write a full case analysis HyundaiCard s Marketing Strategy All information additional Material

Length:  16 pages (5270 words) | Sources:  15  | Subject:  Business Ethics | Type: Essay | Paper: #96217321 | Author:  

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Excerpt from Essay:

The company had a long-term objective of transforming itself from what many used to know as an automobile manufacture into a global leader in the provision of additional services that are related to the automobile industry.

Problem statement

At its inception in 1999, the creative business model of Hyundaicard which was based on innovative products, integration of offline and online customers and the general consumer needs, forecasted that their clients would be given a discount of up to two million won as a promotion for using the Hyundaicard when purchasing Hyundai automobiles. This discount awarded could be paid back using points accrued from the use of the credit card in a five year period. Thou there was commendable success of the creative business model in the Korean market, the performance of the company had not shown the much anticipated improvement, seven years down the line.

This prompted the company to evaluate its marketing strategies, after which it was evident that the company experienced difficulties in relating its creative business model to the loyal clients of other leading companies in the Korean credit card industry. This resulted to a minimal client base i.e. the number of Hyundaicard holders was very minimal representing a very small share of the market, as a result the company was regarded as a market follower not a market leader.

At this point the company s management was faced with the problem of how to successfully re-strategies the company to become a market leader in the Korean credit card industry up from being a market follower. The other challenge was whether the current Hyundaicard s marketing strategy could give it a competitive advantage in the market place and what future marketing strategy could best suit Hyundaicard.

Evaluation and assessment

Internal analysis

Customer value proposition

Through the creative business model the Hyundaicard offered customers who used the card when purchasing automobiles manufactured by the hyundai automobile company, a pre-discount of up to two million won, of which they would repay it back in span of five years using the points accrued while using the card. The other value…[continue]

Cite this Essay

APA Citation

"Write A Full Case Analysis HyundaiCard S Marketing Strategy All Information Additional Material" (2011, January 27) Retrieved March 6, 2015, from http://www.paperdue.com/essay/write-a-full-case-analysis-hyundaicard-s-85221

MLA Citation

"Write A Full Case Analysis HyundaiCard S Marketing Strategy All Information Additional Material" 27 January 2011. Web.6 March. 2015. <http://www.paperdue.com/essay/write-a-full-case-analysis-hyundaicard-s-85221>

CHICAGO Citation

"Write A Full Case Analysis HyundaiCard S Marketing Strategy All Information Additional Material", 27 January 2011, Accessed.6 March. 2015, http://www.paperdue.com/essay/write-a-full-case-analysis-hyundaicard-s-85221