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Hyundai Genesis in Germany

In: Business and Management

Submitted By taylormcguire
Words 7084
Pages 29
BUSI 0022 International Marketing
Group Paper 2
Hyundai Genesis in Germany Name | UID | BUECHI, Mathis | 2009583263 | KIM, Hojung | 2010555716 | KIM, Mi Song Grace | 2010538603 | MA, Michael | 2010576617 | MCGUIRE, Taylor | 2011973367 | SUNDERRAMAN, Shravan | 2009553945 |

Table of Contents
1. Introduction…………….………………………………………..1
2. Germany………………………………………...……………….1
‐ Target Customers Segmentation
Demographic
Psychographic
‐ Vignette of the Target Market [Germany]
3. Hyundai Genesis in Germany………………………..…………3
‐ Global Market Entry Strategy
‐ Product Characteristics
Relative Advantage
Complexity
Compatibility
Communicability
Divisibility
‐ 2 Important Pricing Objectives & Strategies Pricing Objectives & Strategy 1 Pricing Objectives & Strategy 2
‐ Channel Structures
Key Functions of Each Channel
Potential Conflicts
Suggested Preventions & Solutions
‐ 3 Promotional Elements
Promotional Element 1: Advertising
Promotional Element 2: Public Relations
Promotional Element 3: Product Placement
‐ Radio/ TV Commercial for the Product
Advertising Objectives
Advertising Appeals
One Planned Commercial for Genesis in Germany
‐ Contrast Marketing Strategies to Those in the Home Market [South Korea]
4. Conclusion ………………………………………………………9
5. References...…………………………………………..…….....10

INTRODUCTION
Planning to enter a foreign market is not a task that can be taken lightly. Before any serious considerations can be made, thorough research must be done to understand all factors involved. Demographics, consumer buying behavior, economic conditions and infrastructure are just some of the areas that must be analyzed to get a full understanding of the foreign market. In addition, a pricing strategy must be devised to coincide with the planned diffusion of the product. Next, trade channels must be properly understood and planned for execution before the company can consider its promotional tactics and potential PR campaign. At the end of the day, it is no easy task, and for the Hyundai Genesis it may be even tougher, as Germany represents one of the most fiercely competitive automotive markets in the world. This report aims to provide a clear analysis and viable marketing plans for Hyundai Genesis to enter the competitive, but potentially lucrative German automobile market.

GERMANY
Target Consumer Segmentation
Demographic Segmentation
Germany is one of the most competitive markets for automobile industry. Hyundai, in order to survive in the domestic market of global brands such as Mercedes-Benz, Volkswagen, Porsche and BMW, need to thoroughly analyze and target different segments of Germany’s demographics.

Age is one of the most crucial factors that need to be analyzed when developing marketing strategies. Since this is an analysis for a car company, the relevant target of age would start from 17, the minimum legal age for driving in Germany. The German population can be grouped into three categories, the prime adult (from ages 20 to 44), middle age (from ages 45 to 64) and senior (from 65 and above), the prime adult group had the most population with 26.6 million people, followed by middle age group and senior group, with 23.5 million and 16.7 million people respectively (“Germany: Age distribution,” 2010). The prime adult group of the German population looks for a trendy, environmental, as well as economic car, whereas the middle age group is drawn to handling. Rather than focusing on one of the three groups, Hyundai should try to encompass all the preferences of different age groups, introducing models that are trendy, environmental, economic and well-engineered. An interesting fact is that unlike other countries, 50% of the people in the age group from 50 to 69 shop through the internet (P. Turnbull, 2010). Therefore, Hyundai could use this to its advantage by perfecting its webpage to encourage consumers to purchase its products.

Gender is another factor in developing marketing strategies, which needs specific attention to. First of all, the population of males and females aged more than 20 in Germany is approximately 32.4 million and 34.4 million, respectively (“Germany: Age distribution,” 2010). According to the research, ‘Gender differences in German consumer decision-making styles’ (Vincent-Wayne Mitchell, 2006), in terms of brand consciousness, both German males and females see higher priced goods as synonymous to high quality. Also, it was shown that men were more loyal to domestic brands, whereas women had higher expectations of the product they buy. When looking at impulsiveness of German consumers, both German men and women were equally likely to purchase impulsively when given an in-store promotion. Additionally, men have been found to be less variety seeking and were more price sensitive, whereas women seemed to equate the quantity of advertisements to the value of the brand and were more variety seeking. Using this information, Hyundai should make strategies that would appeal to both male and female consumers, emphasizing that the quality of its cars are similar or superior to those of German cars in advertisements, while giving good promotion offers in its stores.

Education is another segment in a country’s demographics that a marketer may need to pay attention to. According to the statistics of Germany, 23% of adult population between the ages of 25 and 64 were educated to a tertiary level (“Germany: Education,” 2010). However, this does not mean that Hyundai should advertise its product to Germans with stick and stones. Instead, Hyundai should avoid trying to convey overly complex messages through its advertisements.

Income plays a big role in decision-making of consumers since money is, in most cases, the deciding factor of purchasing products. Germany, in terms of income, is well off, classified as a high income country. Also, the Gross National Income of Germany is $1,940,000,000,000, which is ranked 3rd of 172 countries (“Germany: Economy,” 2010). Another statistics indicate that the working time to buy a car for an average German citizen is 861 hours, ranking 15th place (“Germany: Labor,” 2010). From these figures, one may think that the German consumers would be less conscious of the price tag, but rather focused on brand value. However, a study on German consumer behavior in 2008 tells us that this is not the case. During 2003 to 2008, it was reported that the power of brands have dropped 9.1%, while the price sensitivity has rose 9.0% (“New study on German consumer behavior: Brand loyalty on the wane,” 2008). This clearly supports the thesis that now, in Germany, the power of price outweighs the power of brands. Although for manufacturers with powerful brand image this is a huge disadvantage, for Hyundai, this is a golden opportunity, as it will be more flexible in developing variety of pricing strategies.

Family life-cycle is about changes in consumer buying patterns as the “family” progresses through different stages of life. There are total of 9 stages that a family goes through, which are young singles, newlywed couples, full nest I to III, empty nest I to II, solitary survivor, and retired solitary survivor. Applying statistical information about marriage and birth in to the cycle will help determine the most plausible target for Hyundai. According to the statistics, in Germany, the age at first marriage for men and women is 30.9 and 28.2 (“Germany: People,” 2010). Knowing this, we can assume that from 17, the legal driving age, a German male would stay as a young single for about 14 years and female for 11 years. After getting married, an average German couple would then be in the stage of newlywed couple for 2 to 3 years. Then, after giving birth to their first baby, the family stays in the stages full nest I through full nest III for about 20 to 25 years. They enter empty nest stage I, which is when the children have left home and are financially independent, when they’re 61. The couple enters the empty nest II stage generally at the age of 63, the retirement age limit in Germany. Not a lot of German couples go into the solitary survivor stage, where the surviving spouse continues working. Therefore, in Germany, the surviving spouse usually goes in to the retired solitary survivor stage. Analyzing these data we can figure out who Hyundai should target. A trend from the 80’s shows that the time German couples stay at the newlywed couple stage either stays the same or increases (“Age of women at first birth,” 2009), (N. El-khorazaty, 1997). Newlywed couple stage is characterized by expenditure on vacations, clothing, and most importantly, cars. Therefore, it would be reasonable for Hyundai to target the newlywed. Also, there are speculations that the retirement age limit in Germany could increase to 67 (P. Sharma, 2010), which would lengthen the empty nest stage I, the time when the income peaks, making a feasible target.

Psychographic Segmentation
Psychographic segmentation is all about looking into how consumers receive and interpret information to develop a certain image about a product or a brand. Therefore, understanding the psychographic attributes of German consumers would benefit Hyundai’s development of a marketing strategy.

Understanding consumer’s perception and how it is developed and changed can be a great tool to use when approaching them. First, let us look at how Germans perceive domestic produced cars. In a global market, German cars equate with luxury. However, for Germans, who have grown next to the “luxurious” German automobiles, the brands would just be perceived as something domestic. While the Germans do perceive their domestic automobiles as something common, they also perceive them as being reliable and safe. The world rankings of the 100 most reliable cars of the last decade (M. Hanlon, 2006) have shown that cars made in Japan are the most reliable. However, in a survey of cars that are least likely to break down in Germany, German cars dominated the charts (M. Schwoerer, 2008). Here, we could see that although the figures say that Japanese cars are the most reliable, German people “screened out” the information. Hyundai therefore should think about developing marketing strategies that would really engrave its logo and theme in its consumer’s mind, which would then help develop a German “perception” of Hyundai.

One of the attributes of the psychographic segmentation that is the most closely related to the customers actually purchasing the products, perhaps, is the motivation. Price often is the most motivating factor when deciding whether to purchase a product. Therefore, as German consumers are getting more and more price sensitive, they are looking to buy cars that are relatively cheaper, with disregards to brand value (“New study on German consumer behavior: Brand loyalty on the wane,” 2008). Fuel-efficient cars are getting popular as it is getting more financially burdensome to drive fuel-chugging cars. Apart from prices, as German consumers become more aware of the environment, it is becoming a motivation to be eco-friendly (“Green consumer attitudes – Automotive in Germany,” 2012). Finally, it was reported that for German consumers, government incentive is a huge motivation to buy a car (“Research: Automotive paradigm shift,” 2010). Among countries such as China, US, and UK, Germany was shown to be the most responsive to government incentives. Analyzing these motivating factors, Hyundai should pick an area they can excel at and use it to their advantage. Pricing strategy, as mentioned before, is a favorable option. Hyundai should also stress its promotional values, as it could act as something similar to a government incentive, while emphasizing that the Genesis Coupe is indeed a fuel efficient car.

For brands entering a new market in a different country, it is important to thoroughly research the country of market’s origin’s beliefs. The marketing team of the brands would have to be careful not to promote anything that would go against the beliefs of their customers. For German consumers also, there are few beliefs that the people have that need close attention to. Starting with a simple fact, 68% of the German population believes in Christianity, a relatively high percentage of the population (“Germany: Religion,” 2010). Leading from their religious beliefs, the German people believe that no work should be done on Sunday.

Studying the attitude of a consumer towards a certain product is essential to understand how the target customers feel towards certain strategic marketing actions made by companies. As discussed previously, it was reported that more German consumers, even those who are older in age, are using the internet for shopping (P. Turnbull, 2010), showing that German consumer’s attitude towards online shopping has become very positive. Also, it was mentioned that one of the motivation for German consumers to buy an eco-friendly car was because of the environment. The reason this motivation took place is because the German consumer’s attitude towards the environment has changed. Attitude towards a new brand for Germans, especially for male consumers is cautious, as mentioned. Continuing on from the information about German belief that Sunday is for rest, attitude towards doing business on Sunday is negative because it conflicts with their beliefs. Since German auto makers know their domestic consumers’ attitudes so well, in order to stay competitive, Hyundai will need to research and come up with a strategy that concurs with the changing attitudes of the German consumers.

Knowing the lifestyle of the target consumers and adapting to it is overlooked by some companies. However, it is something extra that Hyundai can do that could possibly win the hearts of the German consumers. Lunch time in Germany is very important with even laws regarding lunch breaks (“A typical day as an exchange student,” 1999), therefore, Hyundai should definitely take this in to account. Also in Germany, there is a something called Ruhezeit, which is a quiet hour and in those hours, usually 1:00 to 3:00 pm, it is frowned upon when somebody turns on a loud music or makes a loud noise (T. Nunamaker, 2011). Hyundai again, should take note of this and avoid making mistakes that would offend the local consumers.

Vignette of Target Market
Hans is a 31 year old average German male with an average paying job. Hans recently got married to Annika, who is of the same age, also with an average paying job. The couple is living in their first house in Munich. Now that Hans and Annika are done settling down, they are planning to buy a car. Hans, who likes Audi, a domestic brand, tells Annika that he would like to buy a reasonably priced Audi car. Annika on the other hand, saw an advertisement of Hyundai Genesis Coupe and convinces Hans to have a look at the car. The couples go on the internet to find information about this car and brand that they have never heard of. Hans and Annika both agree that the style and the fuel efficiency are very good. However, they are most surprised when they see that the car is so cheap. While they were positive about the price of the car, they worry that the quality would not be up to standards. To better know about the Hyundai Genesis Coupe, Hans and Annika decide to visit a local car dealership. They decide to go on Saturday afternoon as they have work all weekdays and the dealership does not do businesses on Sundays. During the visit to the dealership, Hans and Annika decide to test drive the Genesis Coupe and find it surprising that for a price this low, the quality was superb. Also, the couple was enticed by the various promotions that Hyundai offers and the fact that the Genesis Coupe is also eco-friendly. Hans and Annika come back home without making the purchase to further discuss which brand to choose from. Hans still favors the Audi but would be satisfied with buying a Hyundai car. Annika, who has owned Audi before, would like some variety. After a heated discussion, the couple agrees to purchase the Genesis Coupe. They go in to the site Hyundai Motor Deutschland and find that they have recently added delivery option of the Genesis Coupe. They make the payment, amazed by the simplicity of the transaction, and purchase the car.

HYUNDAI GENESIS IN GERMANY Global Market Entry Strategy Direct Investment
After careful consideration, it has been determined that the best way for Hyundai to enter the German market is through direct investment. First of all, to position itself as an affordable high-end car, the Genesis can not afford hefty import tariffs to be added to its price tag. Below are some additional factors that make Germany an attractive market for Hyundai investment:

Talented Workforce: Approximately 750,000 highly trained and experienced people are working in the automotive industry. Of these, one in nine work in automotive related research and development. In addition, there is a steady flow of mechanical engineers coming from nearly 100 universities and colleges to ensure continued engineering excellence. If Hyundai wants some of the best automotive talent the world has to offer, Germany is the place to find it.

Infrastructure: Not only is Germany located in the heart of Europe, it is also home to cutting-edge transportation networks and sophisticated infrastructure matched by no other. At the height of modernity, Germany also boasts as number one in European logistics, ensuring that things are where they need to be, when they’re needed. The World Economic Forum has rated the German economy as first in infrastructure in its 2008 competitiveness report. (reference)

Grants: The German government is exceptionally supportive of the automotive industry, exemplified by their generous grants. Currently, companies can obtain investment incentives of up to 50% of capital expenditure, depending on the scale of the project. There is also support provided for employment and research and development, with programs in place to make setting up in Germany significantly more achievable. All companies in Germany are eligible for these grants, regardless of the country of origin. The total amount of these incentives depends on three factors: project scope, investor company size, and the new investment location (Invest in Germany, 2008).
Invest in Germany. (2008). Automative Industry Germany. Berlin: Invest in Germany. Product Characteristics Relative Advantage Hyundai’s competitive advantage is mainly focused on high performance and yet an economical price. While the company is not able to compete with the top quality reputation of the established local brands such as BMW, Mercedes and Audi that offer very similar models in the luxury/sports car category, Hyundai has its competitive edge in price. In addition, the Genesis and other Hyundai cars have won several prices for best quality such as by the Autobild magazine in 2010 (Autochannel, 2010), which represent Hyundai cars also have good quality. With its better image it can target the customers that are looking for a quality car but are price-sensitive. Complexity Complexity of car is important in the diffusion of the product. Concluded from the previous project analysis, car owners in Germany expect to understand the car immediately and do not want to start learning how to drive again just because they purchased a new car. Thus, the switch from a German model to other foreign brands should be as minimal as possible. Despite its many special interior luxury features such as a cooled glove box, the Hyundai Genesis has been described by many reviews simple to handle, steer and use and there are no switching costs in terms of handling. (Febbo, 2012) Especially the interior styling of the car has been described as very simple with beautiful minimalistic design. Simplicity and quality are important German values that will make the Genesis an even more attractive product for the German customers. Compatibility Compatibility of an innovation is "...the degree to which an innovation is perceived as consistent with the existing values. past experiences and needs of the receiver" (Rogers & Shoemaker. 1971)
A car’s compatibility with existing services, spare parts and general infrastructure as well as the previous driving experiences of the customers are crucial for cars and the purchasing decision of the potential customer. Also, technological compatibility with cell phones through technologies like Bluetooth are becoming a more and more important part of a car. Hyundai Genesis is equipped with USB and Bluetooth connectivity (US News,2012), uses a normal form of fuel available at all German gas stations. However, Hyundai’s service centers might need some time to train their employees and become equipped with spare parts to offer full service for the Hyundai Genesis in all of their over 800 German service centers and partners. (Hyundai,2011) This time for adoption is necessary since the Genesis differs very much from the previous models sold in Germany such as the I-80 and I-50, which are smaller, simpler cars. However, Hyundai has great experience with brand extension in international markets and will be able to benefit from its existing knowledge of handling the Genesis in the United States and China. Communicability While many of the above mentioned factors of diffusion do not seem to be a challenge for the Genesis, the aspect of communicability certainly is. There are three reasons of difficulty from this aspect: i. Hyundai brand is solely established in the small car segment and is not known for luxury cars in Germany; ii. Asian cars, in general, are still perceived as subordinate to the domestic brands; iii. The Germans are very proud of their own brands and it is not advisable to attack them directly in promotion activities such as in the United States. These three reasons will make the communication of Hyundai Genesis with the German costumer very difficult. Firstly, Hyundai needs to change its general brand image from a cheap, small car builder more towards a quality auto manufacturer. While Hyundai’s cars have won many prices for quality and design, the brand will still have to communicate this to a broader audience. Also, Hyundai will have to make consumers to be aware that it also can build luxury cars and not only economical, small automobiles. It will have to widen its brand image in this direction, which will require some time. Secondly, Hyundai has to differentiate itself from other Asian competitors, mainly by its quality advantage. Thirdly, Hyundai needs to be communicated that the Genesis offers the same value as other German car brands while being sold at a much cheaper price without offending the Germans and their pride in their own brands. In the United States several advertising campaigns were launched when the Genesis was released, directly attacking the German competitors in a humorous manner. However, in Germany, such advertising is strongly restricted by law. More importantly, this advertising strategy would be perceived very negatively by Germans if the German car makers were directly attacked. Divisibility The divisibility of a car is largely correlated with its trialability that lowers the perceived risk of purchase of the customer. Therefore, Hyundai Germany will have to make sure that Genesis is largely available by every dealer in the country and give the German consumers a chance to find out themselves of why they should pay a lot for a similar quality car if they can pay less for an excellent Hyundai. 2 Important Pricing Objectives & Strategies
The pricing strategy for Hyundai Genesis will be crucial to its success, since it major competitive advantage is the price in the luxury segment. Since the income per capita and disposable income differ from country to country, national price adaptions (polycentric approach) in the car market are necessary to comply with the consumer needs of the market particularly because of the high cost of a purchase of a car. Therefore, Hyundai will have to set new pricing strategy for the introduction of the Genesis in Germany. One of the main objectives in Hyundai is to gain market share and expand from its current 3% to 5% by 2015. (AutomotiveWorld, 2011) Therefore, the amount of unit sales will be the main objective, which will be achieved by a penetration pricing strategy. However, of course the company needs to be profitable and the unit costs of each car (including all past or current direct and indirect manufacturing and overhead costs) will have to be recouped and profits will have to made.
Since Hyundai is sourcing its production to India, Russia and mainly the Czech Republic for its German market supply, it has a cost advantage compared to its competitors that produce more costly domestically. (Catonguay, 2012) However, since a car is a rather large investment, the average consumer will evaluate the prices differences and alternatives very carefully. For that reason, the car pricing environment is very competitive. Usually, competitor behavior in the car industry for pricing decisions is very adaptive and other car manufacturer react quickly to market changes.
The price of car is set according to the costumer’s willingness to buy, which is determined by various factors. While a car purchase is a rational decision for most costumers, one cannot neglect the strong emotional influence of brands on the purchasing process. Not only the emotional, personal perception of the brand but also factors such as nationalism and social status that is implied with the car do play an important role. In many of these factors Hyundai has a disadvantage since its brand image is in Europe still one of a produce of economical cars, does not represent a high social status and is not a domestic brand, it will have to adapt its prices accordingly.
Also, Hyundai will have to consider its pricing decision in other European markets because potential of grey market goods – the export of car by unauthorized persons or organization is very real. The countries of Europe a rather small, the borders within the EU are open and even customers themselves can simply cross the border to purchase their car in cheaper neighboring country. For that reason, Hyundai will need to have European-wide pricing strategy and motivate consumers to purchase domestically with a warranty and support policy that reinforces costumers to buy their car in their own country.
Cars are customized products and are usually configured according to the individual customer needs. Therefore, car prices are difficult to compare because each brand and model has a different standard version that is sold by a fixed price. For example, a BMW might not include a radio or leather seats in its listed standard price while a Hyundai includes these features. Therefore, only minimum prices of standard models can be compared, which might have to be adapted strongly depending very much on the customization. Therefore, this report does not include a very specific monetary value for price recommendation.
However, the price of Hyundai Genesis in Germany should adapt an aggressive pricing strategy such as in the United States. (US News, 2012) With a standard model price of about 30,000 Euros, it is still very much cheaper than comparable cars such as the Audio A6 or other similar luxury cars from BMW and Mercedes that sell on a base price of around 45,000 Euros. (AutomotiveWorld, 2011).
Since it lacks the domestic advantage, the luxury brand reputation and Hyundai’s main objective is to increase market share in Germany, the low and aggressive pricing strategy for market penetration will be the best choice for Hyundai at the moment and will secure the success of Genesis in this difficult market.

3 Promotional Elements

Promotional Element 1: Advertising

Advertising, which is any sponsored, paid message that is communicated in a nonpersonal way, is the most commonly used type of promotional strategy by most of companies in the world. TV commercials and news paper commercials will be used when launching Genesis in Germany, which will highlight prestigious image of product and brand along with endorsers. Since TV commercials will be elaborated with details in a latter part of this paper, only News commercials would be discussed in this part. Positioning as a luxury car, elegance and prestigious image of Genesis will expressed in news papers. Like those in the home market, the major color used would be black, which represents authority and respect. When advertising about Genesis, the brand would not much be emphasized due to Hyundai’s previous image of a cheap car producer. While describing Genesis as a luxury car, corporate advertisements would also be launched in order to have a brand image shift from a cheap car producer to more high-end car producer. Admiration and emotional approach would be the major appeals used in advertising. One way to gain these is by using endorsers in the advertisement such as Jürgen Klinsmann, a famous footballer and coach of the national team. (“Jürgen Klinsmann”, 2010). Hyundai should cooperate with other endorsers like Franka Potente and Diane Kruger, who have luxurious images as well as represent Germany.

The primary strengths of advertising are its efficiency and effectiveness. Advertising is efficient for the reasons of reaching a broader spectrum of consumers simultaneously rather than one by one promotional elements. Through these promotional elements, Genesis will be introduced not only to current buyers but also to other potential buyers in Germany. In addition, advertising is effective as consumers can have solid band and product images that are established through advertisements. When they are well-made, advertisements can be so effective communicating with consumers regardless of their educational level and any other conditions. Unfortunately, this exact strength might turn out to be a weakness when advertisements are made carelessly. Especially, Hyundai need to concern about cultural and social differences between the home market, South Korea, and the target market, Germany. In a worse situation, Germans might not be able to understand these advertisements used in South Korea even if language is translated, or in the worst situation, it might be possible to create a negative image due to differences. The other primary weakness of advertising would be its cost. Because of its efficiency and effectiveness, advertising has a very high cost.

Promotional Element 2: Public Relations

Public relations are non-personal stimulations of demand for products, services or business units for companies by bringing about the big news on a variety of media. In other words, the main objectives of public relations are to foster goodwill and understanding within the society and to generate favorable publicity. Unlike advertisements that have been mentioned above, public relations are not paid by sponsorships. In particular, news release and special events would be used by Hyundai. The news is carried out by mass media about the company, its product, policies, and other issues. Since Genesis is positioned as a luxury car, further efforts should be paid other than direct promoting and communicating. While advertising will improve brand and product awareness, public relations will enhance brand and product resonance. To be more specific, some news that compares performance/price of some famous car brands in Germany like BMW, including Hyundai’s Genesis, will be released. According to the conclusions that were drawn in the previous project, Germans are price-sensitive as well as performance-oriented. Both of these aspects are beneficial for Genesis as it provides a high performance and an economical price. It is firmly believed that Genesis will be ranked high even comparing with other famous luxury car brands. At the same time, Hyundai will organize some special events like community service, charity, or environmental activities that mainly serve for German society not only to gain favorable publicity but also to be pervaded into German society. For example, it can conduct a charity auction with its cars and help one German orphanage. Participating in Oktoberfest is the other good idea for managing public relations.

There are, mainly, three primary strengths for using public relations. The first advantage of this promotional element is the lower cost as the company is not paying for the messages generated. Secondly, the stories generated by the media will be seen as more credible and reliable than marketer sponsored messages. Gaining credibility is important, especially nowadays when people are becoming more and more skeptical about information. The third and the most noticeable strength of public relations is its longevity. While advertising will have a short-term effect and would be gone once the money is not paid, public relations tend to have a longer-term effect within the society. Nonetheless, one of the major challenges that the company will encounter is less control over public relations. With little control over the message from the media, there will always be heavy competition from other companies for media attention. One more concern is that media may not be cooperative.

Promotional Element 3: Product Placement

Product Placement means arranging to have the company’s products and brand names appear in TV shows, movies, and other types of entertainment. This also means lending or donating products to celebrities and other public figures. Mainly, Genesis will be placed in TV shows, movies, or any other entertainment. For example, movies like Knight Rider, 007 Series, Hero related, Taxi, Transporter Series, Speed Racer, and Transformer are all good choices for placing a car. All of these movie focus on cars and through these, their designs, performances, and even superiorities can be vividly expressed. Also, it is a good idea to place Genesis in talent shows as a prize since its name would be addressed every round. Instead of these, Hyundai can also focus on sports events as many other Korean companies do. Because sponsorship is much costly, product placement will be used. For an instance, Genesis can be given to German football or basketball stars. There are, chiefly, three primary strengths for product placement. First primary strength of product placement is increments in brand exposure and awareness for consumers. Brand exposure and awareness will lead to a easier recall during purchasing the same product line, and thus, possibly, increase sales of the product (Waldt, Nunes, & Stroebel, 2008). Secondly, these product placements will have deeper effects than advertisement or direct marketing as audience usually watch movies or TV shows with greater interest and attention. Finally, product placement is relatively cheaper comparing with sponsorship or some other promotional methods. However, too frequent product placement within a movie or a TV show might possibly distract audience from concentrating on story flows and thus, might generate a negative image towards the brand (Waldt, Nunes, & Stroebel, 2008). Thus, a company should carefully place its product. Radio/ TV Commercial for the Product

Advertising Objective

The major advertising objective would be to describe Genesis as a luxury sedan. Like those advertisements in the home market, its luxurious image will be highlighted the most in order to change the existing perception of Hyundai cars. Being rated top in quality and customer satisfaction in Germany and America (“Hyundai History”, 2012), Hyundai is already well-known for its quality and economical price. For this reason, advertisements will not, redundantly, focus on good performance and economical price when introducing Genesis in Germany. These strengths will be conveyed indirectly under the name of a “pioneer”, which provides some luxurious images, as its name “Genesis” (origin, creation, or beginning) suggests. It is a pioneer car not only because of its name but also because of its ability to provide high quality at the same time as an economical price. Overall, the advertising objective for Genesis in German market is to thoroughly notify consumers about the new, luxurious “pioneer”.

Advertising Appeals

Among many possible appeals, admiration, vanity and egotism, and emotional approach would be the major advertising appeals used for introducing Genesis in German markets. Being positioned as a luxury car, Genesis should be able to evoke people’s admiration before the purchase and vanity or egotism after the purchase.

One Planned Commercial for Genesis in German Markets

Based on the objectives and appeals in the target market, below is a planned commercial (30 sec) for Genesis in German markets based on an existing advertisement video with some modifications: Time (sec) | Visual | Sound | Background Music | 0-4 | Dark sky was lightened. | “A start of the world” | Lesiem - Fundamentum | 4-12 | Genesis coming out from water | “It’s not an evolution but a creation” | | 12-30 | Genesis from different angles | “A moving dignity of 20th century”“For your prestigious identity”“A new, luxurious pioneer. A new Genesis” | |

Contrast Marketing Strategies to Those in the Home Market [South Korea]

For the major concepts, extension was made. Promoting the image of luxury and emphasizing a role of a pioneer are exactly the same as those marketing strategies in the home market despite some modifications were made in the definition of a pioneer. In Korea, Genesis is a pioneered luxurious car for oversea markets; in Germany, Genesis is a pioneered luxurious car that provides both good quality and price. Some adaptations were made due to different market situations. Firstly, there is less emphasis on its performance and price since Germans already have some perception towards Hyundai. Generally, it is beneficial to be positioned as high-quality and yet low-price car company. However, as Hyundai was trying a new marketing strategy of introducing a luxurious car, this perception might not necessarily be good. Instead, this could be a barrier introducing a luxury car, which consumers might be confused. For this reason, Genesis’ high performance and yet low price were not much highlighted. Nonetheless, these competitive edges were not totally ignored but expressed indirectly in order to compete with other high-end car brands. In addition, the advertisement put a less emphasis on the brand and country of origin as they might not necessarily evoke a positive outcome due to many factors like German pride. CONCLUSION In conclusion, REFERENCES

AutomotiveWorld. (2011, December 29). AutomotiveWorld. Retrieved from Germany: Hyundai eyes 5% of European market by 2015: http://www.automotiveworld.com/news/oems-and-markets/91250-germany-hyundai-eyes-5-of-european-market-by-2015
Catonguay, G. (2012, January 23). WSJ. Retrieved from Hyundai Sees Growth in Europe: http://online.wsj.com/article/SB10001424052970204616504577172621210707732.html
US News. (2012, March 2). US News. Retrieved from Hyundai Genesis Review - What the Auto Press Says: http://usnews.rankingsandreviews.com/cars-trucks/Hyundai_Genesis/ Febbo, M. (2012, February 14). Autotrend. Retrieved from 2013 Hyundai Genesis Coupe 3.8 Track First Test: http://www.motortrend.com/roadtests/coupes/1202_2013_hyundai_genesis_coupe_first_test/viewall.html
Rogers, E. M. (1983). Diffusion of Innovations. New York: Free Press. New York: Free Press.

D. L. R. Van der Waldt*, V. Nunes and J. Stroebel

Jürgen Klinsmann is New Brand Ambassador for Hyundai

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