Dear students, This is a project report on “Sales Promotion in Hyundai”. In this report, you will get an overview of Hyundai Motor Company, its history, vision, mission, product range, achievements, market share, and future prospects.
The report then focuses on sales promotion in Hyundai cars. It covers the objectives, research methodology, data collection, findings, and recommendations related to Hyundai’s sales promotion strategies. Key aspects covered include:
– Analysis of brand loyalty of Hyundai customers
– Consumer satisfaction and sales promotion for different Hyundai cars
– Evaluation of after-sales service provided by the company
The report utilizes surveys, interviews, and secondary data sources to analyze Hyundai’s sales promotion. It provides a template for you to understand sales promotion in the automobile industry.
To create your own report, you need to:
– Choose an automobile company of your interest
– Define objectives related to analyzing their sales promotion
– Determine appropriate research methodology and data sources
– Conduct primary research through surveys and interviews
– Collect secondary data from company reports, news articles, websites etc.
– Analyze the data and present findings using graphs, charts and tables
– Provide suggestions and recommendations to improve sales promotion
– Draw conclusions based on your analysis and interpretation
You Can Find Main Project File Below
Summary Of Project Report On Sales Promotion In Hyundai
Introduction to Hyundai Motor Company
Hyundai Motor Company is a leading multinational automaker headquartered in Seoul, South Korea. The company was founded by Chung Ju-yung in 1967 as a construction company and entered the automobile business in the 1970s.
Over the decades, Hyundai has grown to become one of the top five automakers in the world. The company sells vehicles in over 200 countries through an extensive dealer network. Hyundai’s brand slogan is “New Thinking. New Possibilities.” which reflects its focus on innovation.
Vision and Mission
Hyundai aims to provide high quality, technologically advanced vehicles that create new possibilities for customers. Its vision is to gain lifetime customer satisfaction by delivering precision-tuned automobiles and achieving synergy between human and machine.
The company’s mission is to pursue mutual prosperity with all stakeholders including customers, employees, partners and communities. Hyundai wants to become a company that society wants to exist.
Product Range
Hyundai offers a wide range of vehicles across segments to cater to diverse customer needs. Its key product lines are:
– Entry level – Santro, Eon, Grand i10
– Compact – Elite i20, i20 Active
– Midsize – Verna, Elantra
– SUV – Creta, Venue, Tucson
– Premium – Elantra, Sonata
The company also has commercial vehicles like trucks, buses and vans. New introductions like Kona electric SUV demonstrate Hyundai’s focus on environment friendly mobility solutions.
Achievements
Hyundai has achieved significant growth and success over the past two decades:
– It is currently the 3rd largest vehicle manufacturer in the world after Toyota and Volkswagen.
– Hyundai cars have received global recognition for quality, reliability and stylish design. Models like Santro, i10, Creta and Tucson are segment leaders in India.
– The company exports vehicles to over 200 countries. It crossed 1 million car exports from India in 2010.
– Hyundai has one of the largest and most advanced manufacturing facilities in India near Chennai. The factory has an annual production capacity of over 7 lakh units.
– In J.D Power’s Initial Quality Study, Hyundai reached 2nd position behind Porsche in 2016 – highest rank for a mainstream automaker.
– Hyundai Motor India recorded cumulative sales of over 50 lakh units in the domestic market in 2017. It aims to further grow its presence in India.
Market Share and Future Prospects
As per 2019 data, Hyundai had around 45% share of the passenger vehicle exports from India and 17% share of the domestic market. It is the second largest car manufacturer in India after Maruti Suzuki.
Hyundai is investing heavily in new technologies like electric, hybrid and fuel cell vehicles to strengthen its position in the future. The company plans to launch models like Ioniq Hybrid and Kona Electric in India which run on alternate powertrains.
Expanding into new segments with premium SUVs and MPVs is another strategy being adopted by Hyundai. The company aims to achieve lifetime customer satisfaction through quality products and excellent service.
Introduction to Sales Promotion
Sales promotion refers to short-term incentives aimed at stimulating sales of a product or service. It is one of the key elements of the promotional mix along with advertising, public relations and personal selling. Examples of sales promotion tools are:
- – Price discounts
- – Coupons
- – Contests and sweepstakes
- – Loyalty reward programs
- – Point-of-purchase displays
Sales promotion can boost sales in the short run by influencing purchase behavior of customers. Companies need to integrate it with other aspects of marketing communication for long term brand building.
Objectives of the Study
The main objectives of this study on sales promotion in Hyundai are:
Primary Objective:
– To analyze brand loyalty of Hyundai customers towards the company’s product range
Secondary Objectives:
– To analyze consumer satisfaction levels and sales promotion initiatives of Hyundai for different car models
– To evaluate the after-sales service experience provided by Hyundai dealerships
Research Methodology
The research methodology followed involves both primary and secondary data collection.
Primary Research:
– Interviews with Hyundai sales and service staff to understand sales promotion strategies
– Survey of 100 Hyundai customers to assess satisfaction levels
– Visits to Hyundai showrooms to gauge on-ground sales promotion
Secondary Research:
– Hyundai annual reports, newsletters and press releases
– News articles and automobile magazines
– Hyundai websites and online media
– Industry reports on automobile sales promotion
The sample size for primary survey is 100 existing Hyundai customers based in Delhi/NCR. The questionnaire aims to evaluate their satisfaction with Hyundai cars and brand loyalty.
Data Analysis
The primary survey data is analyzed using statistical tools like pie charts, bar graphs and tables. This is supplemented by qualitative insights from dealer interviews and secondary data.
Key Findings
Following are the major findings from the research on Sales Promotion In Hyundai:
– Around 85% of customers are satisfied with Hyundai’s product quality and brand image. 60% expressed brand loyalty for future purchases.
– Customers appreciate Hyundai’s value for money proposition, good mileage and after-sales service.
– Hyundai’s promotional schemes like cash discounts, exchange bonuses and corporate offers are seen as attractive by customers.
– Dealer sales executives require better training on managing customer relationships and objections.
– The company needs to improve service capacity at dealerships to reduce wait times especially during peak season.
– There is scope for more innovative use of digital marketing, social media and personalized communication in Hyundai’s sales promotion.
Recommendations
Based on the research findings, following recommendations are presented to improve strategies of Sales Promotion In Hyundai :
– Launch limited period promotional campaigns during low demand months of April-July offering discounts and value added services.
– Increase loyalty rewards for existing customers through personalized offers and priority servicing.
– Conduct regular customer experience surveys to identify pain points and take corrective actions.
– Leverage social media and influencer engagement for promotions, contests and reviews.
– Introduce online booking for test drives and service appointments to reduce waiting times.
– Offer value added services like cleaning, insurance renewals, accessories etc. at dealerships.
Conclusion
The project report on Sales Promotion In Hyundai helped understand Hyundai’s sales promotion activities and customer perspectives on key aspects like product experience, service quality and brand loyalty. While Hyundai has strong brand positioning, there is scope for improvement in customer relationship management, adoption of digital promotion tools and delivering superior after-sales service. Implementing the suggested recommendations can help Hyundai boost sales, enhance customer satisfaction and build lifetime brand loyalty.
Main Project File
Instruction For Students
Make sure to customize the Project reporton Sales Promotion In Hyundai as per your selected company and available data. Pay attention to maintain proper flow and presentation. Use simple language and explain all technical concepts. Do not copy content from external sources directly. Cite references properly.
