Rockford Register Star Sunday, March 27, 2005
Business Section, Page 4C
Hyundai, Kia shift gears to pass competition
In this article, the Rockford Register Star discusses the most recent marketing changes in the Korean owned auto companies of Kia and Hyundai. The Korean cars are the second fastest growing car brand in America, trailing behind BMW. Kia and Hyundai had only two car models in 1999; and as of 2005 there are nine. They have announced their “24/7” plan that they say they will introduce seven new cars in the next twenty-four months. They plan to introduce and promote a new line of cars in the United States that appeal to the budget of everyone. They have lower end cheaper sedan cars and higher end luxury style sedans that may be a little more expensive that compare with that of the Honda Accord or Toyota Camry. The new line also included a sporty vehicle that will appeal to that of a gear-head teen who desires more power which ensuring a focus on safety with six air bags and the normal equipment that is standard on modern cars. (ABS, Electronic Stability Control, CD/Stereo, etc). Kia and Hyundai promises that their cars are reliable and worth the dollar. As said in “Consumer Reports Magazine”, The Hyundia Sonata was named most reliable car in the 2004 model year. The article states that with the introduction of these new cars and new quality standards, Kia and Hyundai will new competition for Japan’s Big 3 auto companies. The article stated that names Kia and Hyundai are now auto names respected and associated with quality and a standard of safety.
This article deals with our business class in a sense that Kia and Hyundai are creating cars and marketing them to appeal to all types of people in all ranges of income. These cars will have a reasonable price and yet have the quality of the industry standards. They are marketing these cars with a status of quality and reliability that is now associated with the Korean based auto companies to compete with other auto companies; both domestic and imported vehicles while at the same time offering a variety of styles to appease the desires of a vast group of ages.
I’ve learned that companies, if they want to be successful, need to market a product to the right people at the rice price. Also, companies need to market a product with a variety of styles to catch the eye of different shoppers. Like Kia and Hyundai, they are offering more sporty types of vehicles while introducing a new line that will be more luxury based sedans while all of their vehicles are associated with the names that are associated with quality of the industry standards. I feel that it is important to have these qualities as a company in order to be successful and to be competitive with other companies that have made a name for themselves in the market. Companies also need to promote their vehicles as being of quality so their name is heard and their line of vehicles will be considered in a future purchase for transportation.