March 21st– Marketing

• How do companies in this industry differentiate themselves from one another?


Hyundai motor is currently trying to increase their luxury cars sales in the U.S market. Due to the company image that Hyundai has in the U.S market, which is generally known as a company producing quality cars which is cheap, they have tried to create a new luxury brand(Vehicle of price more than $60,000). Hyundai have evaluated that it would be difficult for them to enter the luxury brand model in the U.S market with their current image. Just like the Lexus of Toyota, it would be the best way for Hyundai to launch a new luxury brand. If Hyundai is likely to produce luxury cars, they would have to compete with other vehicle models from different companies such as, BMW 3series, Benz C-class, Lexus, and Audi A4. In order to survive to from the market, Hyundai would have to differentiate themselves with own unique marketing strategy, and their solution was creating a new luxury brand called Equus. Hyundai is expecting to sell between 2500 and 3000 units this year.

As we can see, Hyundai is focusing very much on their marketing strategy for the market in the U.S. Besides creating a luxury brand, they are also changing their name of the vehicles from its origin name from Korea. Naming marketing seems to control a lot for company’s sales in the market. Moreover, it would be interesting to see whether Equus can stabilize in the market with their expected image as the luxury brand in near future.



http://www.ridelust.com/2011-hyundai-equus-is-a-serious-luxury-sedan-contender/
http://www.aiada.org/news-and-events/first-up-daily-news/1236-hyundais-equus-loaded-for-us
http://www.ohmynews.com/NWS_Web/View/at_pg.aspx?CNTN_CD=A0001136145