Hyundai Card’s Marketing Strategy
1. What are key success factors of HyundaiCard?
2. Define and give examples of the following terms: a market leader, market followers, and market niche
3. What future strategy do you recommend for HyundaiCard?
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The marketing strategies deployed by the company was the key reason behind its success within the competitive market. The marketing strategies aimed at increasing the frequency of use of the card with an aim to increase its profit. Thus, the key success factors of the Hyundai Card comprised of market segmentation, eCRM strategy, promotion development and the integration of customer information. Customer segmentation was solely adopted to facilitate the conversion of customers it low-frequency on purchases using the card into clients with high usage of the card. The strategy entailed dividing the market into general, low, middle and high by their card payments. The segmentation focused on the lifestyle patterns of the customer’s thus additional promotion activities such as discounts would…………………
APA
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