22-03-2014, 02:45 PM
WLCI INDUSTRY PROJECT
WLCI INDUSTRY PROJECT.docx (Size: 114.37 KB / Downloads: 22)
Introduction
You are the Marketing manager of Hyundai. Hyundai Motors India Limited is the largest passenger car exporter and the second largest car manufacturer in India. It currently markets eight passenger car models across segments -- in the A2 segment it has the Eon, Santro, i10 and the i20, in the A3 segment the Accent and the Verna, in the A5 segment Sonata and in the SUV segment the Santa Fe.
The company has decided to launch an economy car with the features that are desired by the middle class families of India. The Company is considering to research on the mid-income group car segment - the features as well as the price range required by the target segment.
[b]Project Guidelines:
The students are required to carry out a market research and prepare a Project Report on the following:
The demand and the current level of penetration, of different products of Hyundai
Product characteristics and features that are most preferred by the potential customers
At what price should the new product be introduced in the market
How much of a market impact can we expect with introduction of the new product
Promotion strategy to be adopted in order to ensure the requisite visibility of the product
History of Economy Car segment:
economy car is an automobile that is designed for low cost purchase and operation. Typical economy cars are small, light weight, and inexpensive to buy. Economy car designers are forced by stringent design constraints to be inventive. Many innovations in automobile design were originally developed for economy cars, such as the Ford Model T and the Austin Mini Gordon Murray the Formula 1 and Mclaren F1 designer, said when designing his new Murray T.25 city car: “I would say that building a car to sell for six thousand pounds and designing that for a high volume production, where you have all the quality issues under control is a hundred times more difficult than designing a Mclaren F1, or even a racing car. It is certainly the biggest challenge I've ever had from a design point of view
The precise definition of what constitutes an economy car has varied with time and place, based on the conditions prevailing at the time, such as fuel prices, disposable income of buyers, and cultural mores. In any given decade, there has generally been some rough global consensus on what constituted the minimum necessary requirements for a highway-worthy car, constituting the most economical car possible. However, whether that consensus could be a commercial success in any given country depended on local culture.
[b]Current Position[/b]
Today economy cars have specialised into market niches. The small city car, the inexpensive-to-run but not necessarily very small general economy car, and the performance derivatives that capitalise on light weight of the cars on which they are based. Some models that started as economy cars such as the Volkswagen Golf and Toyota Corolla, have increased in size and moved upmarket over several generations, and their makers have added smaller new models in their original market niches. The 2003 Volkswagen Golf Mk5 had put on so much weight, that some models weigh the same as a Volvo 200 Series. The supermini 2002 Volkswagen Polo Mk4 was longer and wider than the 1970s Volkswagen Golf Mk1. Gordon Murray the Formula 1 and Mclaren F1 designer, said when designing his new Murray T.25 city car: “Today with all the promises of hydrogen and hybrids and electric cars, if you could take ten percent out of the weight of every car, the effect in the next ten years would be more than that of all the hybrids and electric cars on the planet.”[8][9]