Hyundai Motors Firm’s Marketing Communication Plan
Hyundai Motors, headquartered in South Korea, is an automotive company that was founded in 1967. The key products include cars, commercial vehicles, and engines. At present, the company has about 4.8 million production units and an operating income of $18 trillion as of 2019 (Chopra, 2018). Currently, the company has employed more than 120,000 employees globally and it is owned by Hyundai Mobis, National Pension Service (NPS), Chung Mong-Koo, and Chung Eui-Sun (Kim and Kim, 2018). This paper presents an integrated marketing plan for the company that seeks to launch Hyundai 2022 Tucson in the United Kingdom.
Plans and Objectives
While marketing the new car model, Hyundai will have the opportunities such as selling other products, for instance, engines and other commercial vehicles. These opportunities shall be utilized by focusing on the creation of a value chain analysis team to identify other customer needs (Basalingappa and Kumar, 2018). The reason why Hyundai Motors will have this opportunity is that customers will not only be interested in the Hyundai 2022 Tucson but may also be wanting to explore other products.
All the opportunities will be notable elements towards raising enough revenue that shall make the company grow the competitive advantage. External marketing factors especially driven by customer demands will give Hyundai Tucson 2022 a significant competitive advantage. The objectives for this plan include having brand awareness in the UK, achieving significant sales volumes and gaining consumer loyalty. The objectives are relevant because Hyundai Motors seeks to penetrate all the regions in terms of marketing their new products. To achieve the objectives, the company must have an effective marketing team that shall utilize all the required resources.
Background of the Plan
The forces that will shape the marketing communication for the Hyundai Tucson 2022 in the UK may be composed of behavioral changes, regulatory pressure, organizational shifts, and disruptive automation. The buyers who will be interested in acquiring this car will be concerned about how the marketing team will exploit them as long as the new taste for the vehicle is concerned (Pemberton, 2019). The team must be careful to provide a merchandising point that will give the recommended metrics on the car model and the convenience it has, as shown in figure 1.
The plan must take into consideration various factors such as customer reviews concerning the cars before interacting with the potential clients. For instance, some sites such as Edmuds.com will be utilized so that helpful information about customer’s experiences will be obtained (Adilova, 2017). Some of the essential information about the 2022 Tucson model will be how the refined Tucson with gas version has performed in the market.
The Forces in Marketing
Marketing can be influenced by various factors that can be categorized as micro and macro environmental factors. Microenvironmental factors refer to the forces that affect the firm at a close range. The external environmental factors for the Hyundai Tucson 2022 marketing plan in the UK include a raft of aspects. First, technology will be highly embraced to ensure that the adverts are up to modern standards. Cloud technology will be applied, such as 3D technology in developing the websites during the transition (Adilova, 2017). 3D technology is a form of microservices architecture that is powered by cloud technology. The technology can be used to make various displays of colors for the Hyundai Tucson 2022 (Liao and Borrelli, 2019). 3D advertising gives satisfying results because the content of adverts can be altered depending on the required information.
Macroenvironmental factors in the marketing plan for the Hyundai 2022 Tucson still include a raft of aspects. They include ecology and physical environment, socio-cultural, technological and political, and legal factors. From the technological perspective, most of the automotive industry’s key players have advanced their vehicles by having modern elements fixed during manufacture (Adilova, 2017). For instance, Hyundai Motors has indulged in improving issues such as tracking features, four-wheel drive among others.
Implementation and Planning
Ducoffe Advertising Model for the Implementation Plan
The model is used to assess the effectiveness of advertising with various components. As shown in figure 2 below, the value of advertising is based on entertainment, informativeness, and irritation. Buyers in the UK will be likely to buy the car if the advert is entertaining (Juhász and Pokorádi, 2021). Facebook ads will be used to engage clients where they can review comments and likes about the message the ad shall contain. The ads must have features on what the Hyundai 2022 Tucson car has as shown in figure 1. Thus, by using social media, the plan seeks to capture millions of buyers’ attentions more so those who may be frequent users of social media. The adverts must be informative with messages on the drive type, transmission, fuel type, range in miles, among others.
ABC Model for the Implementation Plan
This model explains that attitude has three main features that are affective, behavioral, and cognitive (ABC), as shown in figure 3 below. The affective component, in this case, means that the potential buyers in the UK must have a sensational reaction towards the advertisement of the Hyundai 2022 Tucson hence consider purchasing it (Saleh and Kinaan, 2020). Key advertising agencies shall be the first target regarding this as shown in Figure 4 below. The team must showcase all the colors available for the Hyundai Tucson 2022 and the advantages over the other recent similar car models. Having various colors is one way of drawing attention for the clients hence a possibility to sell more. Cognition will be the critical factor that will allow the buyers to choose to buy the car or not.
Brand Performance, Competitors, and Audience
The redesigned Hyundai car model is one of the top cars in the market from Hyundai Motors. The reason why most people have preferred the car over the previous Hyundai Tucson 2020 and 2021 is because of handling, upscale interior, and space. The car model allows for an infotainment system and many features that assist the driver while on the way, as shown in figure 1. The car has a premium cabin, roomy cargo space, and standard safety features that have proven to be a top-notch buying influence for the Hyundai Tucson 2022 (Kim and Kim, 2018). Thus, the UK-based consumers might want to utilize how the brand has performed and the information will largely contribute to the sales. The competitors include the 2020 Ford Escape, 2021 Nissan Rogue, 2021 Toyota RAV4, and Acura RDX 2021 (Kim and Kim, 2018). The consumer behavior in the UK is unique regarding the automotive industry
The launch for the new Hyundai Tucson 2022 shall be in Liverpool. The town is strategic for the marketing plan since it has one of the notable ports in the country and it is famous for having loads of innovation and expertise about vehicles (Adilova, 2017). Thus, marketing the Hyundai 2022 Tucson there has an advantage since most people have information on the latest brands in the automotive industry. The projected return on investments (ROI) is $60 million in the first six months. The marketing team proposes a growth rate of 20% annually. Thus, in five years, Hyundai Motors shall have attained sales of more than 140%, if all metrics will be observed.
The Marketing Mix Elements for the Plan
The first element in the case of the marketing mix is a product and this is the Hyundai Tucson 2022. The product has lively features such as a posh interior, spacious rows, and a comfortable sitting area. The other element is price, and for the Tucson 2022 car, the current price ranges between $33,650 to $50,315 (Chopra, 2018). For the UK market, the price will be 28,495 euros. The price covers the cost of manufacturing, assembling, and other business metrics. Additionally, the plan also discusses the distribution channel or place. The product shall be sold at major car dealer outlets in the UK such as Liverpool, London among others (Kim and Kim, 2018). The promotion element, in this case, shall be typically advertising through social media and mainstream media as discussed in previous sections.
The Management of Behaviors of Customers
Consumer demographics regarding the automotive industry show that most households have owned cars. About 78% of the UK’s households where most car-owning are single-person households (Chopra, 2018). However, the number of people who can access cars is about 85% of the UK’s total population. Individuals aged 24-46 years are the most buyers for the vehicle industry (Chopra, 2018), with most people in the UK spending about 592 euros on average weekly. Many groups can afford a car and the probability of Hyundai 2022 Tucson getting market is relatively high.
Managing clients in the automotive industry requires a company to have a qualitative way of learning the consumer buying behavior and the metrics available to influence the target group to buy. Hyundai should intensify the expectations by interviewing them and understanding the perspectives the customers have (Basalingappa and Kumar, 2018). For instance, the plan recommends having delivery of live assistance to boost customer experience. It will be possible through having an interface where customer inquiries about the car will be solved promptly.
Performance Evaluation, Optimization and Conclusion
Hyundai Motors is planning to indulge in marketing the Tucson 2022 car. Therefore, the plan has suggested various key issues that the company should address so that the result would be a success. It is important to follow the budget as shown in the sections of the plan. The team needs to be calculative about the major trends in the automotive industry as that shall give them an aspect to penetrate the market well in the United Kingdom. The marketing team must be considerate of the important sections such as macro and microenvironment and also the advertising perspective. Without advertising, implementation of the goals and objectives would be a challenge.
Optimization through improving the marketing metrics will lead to the maximization of the business goals. All tactics must be employed to gain more clients so that the five-year projections shall be visible (Liao and Borrelli, 2019). To conclude, Hyundai Motors must undertake a comprehensive marketing plan by following the perspectives presented in this plan. Therefore, in five years, the firm will have gained a competitive advantage in their new Hyundai Tucson 2022 in the United Kingdom.
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