Launch of Accent

At that time, HMILs major weakness was that it had only one model to offer, And if SANTRO lost its market share, the financial performance of the company would be badly affected. HMIL introduced ACCENT in the indian car market in october 1999. HMIL surprised everyone by pricing the model of ACCENT at Rs. 5,35,000. And it became the largest selling car in C segment leaving behind the MULs Esteem & Fords IKON

Marketing Strategies in Accent

To promote the Accent, HMIL relied on the print media than on television. The reason was that the skew would be around 80:20 in favour of print. That is usually the case with higher value products, which look for a specific kind of audience. Accent was positioned with a baseline THE NEXT STEP. The Accents print advertisement highlighted the latest technology used in the car, such as remote controlled music system, keyless entry system etc.

Advertisement of Accent CRDi

HMIL introduced a diesel variant of the Accent Accent CRDi in Oct 2002. To promote Accent CRDi, HMIL highlighted its special features such as improved technology in a TV campaign.

Launch of SONATA
To widen the product portfolio and enter the luxury D segment. HMIL introduced the SONATA in late 2002. It was priced at Rs. 16,00,000. Technologically equivalent to the Japanese Honda Accord of Rs. 17,00,000. Sonatas advertisement on TV positioned it as a premium car that was dreamt about by everyone, owned by a select few.

Repositioning SANTRO
The reason for repositioning Santro was that MUL commanded the largest market share in this segment due to the combined sale of its three cars- Zen, WagonR & Alto. The company targeted the age group 25 to 30 as it felt that the average age of first-time car buyers had come down. Santro was repositioned as a sunshine car . They come out with new TV commercials to promote Santro along with Preity Zinta & Khan. Zinta & Khan represented young customers whom HMIL was targeting.

TV-ADS of Santro

 HMIL launched the Santro Xing, another variant. It was an improved version of Santro in terms of safety, convenience & comfort.

NEW YEAR NEW CAR

Year April1999 Oct-1999 Oct-2002 Decem ber2002

Name

Santro Accent

AccentCDRi, Sonata repositioned santro

B,C 7.25L D 16L Accord

segment B Priceband
2.89L

C 5.35L Lancer, Esteem, Ikon

competit Zen ors

Year

May-2003

April-2004

July-2004

Name

Santro-Xing Elantra

Getz

segment

Upper D

Price-band competitors

2.89L

8.69L-10.89L Corolla, Octavia, optra

0.43mn-0.56mn Palio, Indica

How Hyundai tap the rural market in India?

Firstly company identified states such as Punjab, Haryana, Kerala, Uttarpradesh that had sizeable rural population. They joined hand with dealers in major rural towns & conducted road shows to push Santro. It also offered test-drives. HMIL believed that once rural buyers became aware of the quality of its cars, they would certainly shift from the M800 to the Santro. Resulting HMIL saw 33% of the sales of Santro comimg from rural areas in 2003.

 In order to promote their brand, HMIL signed an agreement with the Punjab National Bank, one of the largest public sector bank in India, to provide financing on its cars in 2003.

Factors contributing to hyundai success in India

Close study of Indian market. Company officials carried a complete market research. They talked to dealers, venders & customers. Detailed surveys were carried. The company analyzed the Indian customers & their demand. Technologically superior products. Innovative marketing strategies.

 HMIL was not like the US & European companies who believed that their brands would attract customers. They made all efforts to understand the needs & preferences of Indian customers & marketed the products accordingly. The companys unique way of interacting with dealers was a major reason for better understanding of customers. The president of HMILs Indian operations was known for visiting dealers personally to get firsthand knowledge of market trends.

Latest Scenario
Hyundai signed MoU with Allahabad Bank. Its domestic sales growing at 12% for the month of November, 2010. Hyundai bags two prestigious awards at the 12th FIEO Niryat Shree Awards for 2008-09. Hyundai i10 crosses landmark sales of 2.5L units. HMIL receives EEPC All India for Export Excellence for the year 2008-09. HMIL launches 9th nationwide Free Car Care Clinic. It was a 10 day free car care clinic at 429 dealer workshops across India.

 Attractive discounts & exciting prices on offer of privileged customers. Hyundai opens 300th dealership & targets 610 sales outlets, 625 workshops by Dec, 2010.

Thank you

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