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Honda Mid Segment Sedan Brand Equity Market Research
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- 2. Agenda Companyat a Glance Objective Scope of the Project Methodology Findings Conclusion & Recommendations
- 3. Company at aGlance Head Office Tokyo Japan Established September 24, 1948 Product Portfolio : Small Cars , Mid-Segment Sedans , High-Range Vehicles Valued at $19.4bn by “InterBrand” and Brand Ranking 19 Won Best Resale Value Award, Best Residual Award, Greenest Vehicle Award, Greenest Automaker in 2011-12
- 4. Objective •To identifythe sources of Brand Equity for Honda •To measure the Brand Equity of Honda relative to competitors.
- 5. Scope of theStudy For our study we have taken into account Honda Sedan Cars belonging to mid segment. Considered only the sources of Customer Based Brand Equity. Study is limited to Indian market context.
- 6. Methodology Qualitative Survey Identified Sources of Brand Equity & Questionnaire Design Quantitative Analysis
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- 8. Sources of BrandEquity Brand Awareness Loyalty Perceived Quality Brand Associations Market Behavior 1.Top of the mind recall 2.Brand Recall 1.Price Premium 2.Customer Satisfaction 1.Quality 2.Leadership 1.Value for Money 2.Brand Personality
- 9. Sampling Sample Size: 50 17, 34% 26, 52% Honda 7, 14% Switchers Non-Customers
- 10. Top of theMind Recall What is the first car brand you think of in mid range sedan segment? 16 10 Respondents 17 7 20 15 10 5 0 Hyundai Toyota Honda Others Respondents
- 11. Un-Aided Brand Recall Identify the logo 39 11 45 40 35 30 25 20 15 10 5 0 Identified Not Identified Respondents
- 12. Price Premium Areu willing to pay a price premium For Honda City over Toyota Corolla? 79% 21% How much Price Premium are you willing to pay for a Honda? Yes No 2 8 7 1 1 10 8 6 4 2 0 0-50k 50k-100k 100k-150k 150k-200k 200k+ How much Premium?
- 13. Customer Satisfaction Wereyou satisfied with the level of Customer Service provided By Honda? Would you recommend Honda cars to others? 15 2 4 3 16 14 12 10 8 6 4 2 0 Satisifed Dissatisfied Satisifed Dissatisfied Current Honda Customers Past Honda Customers Series1 Chart Title 63% 29% 8% 0% Current Honda Customers Yes Current Honda Customers No Past Honda Customers Yes Past Honda Customers No
- 14. Perceived Quality Ratethe following Brands : Honda, Volkswagen & Toyota on a scale of 1-5 on Quality.(Appropriate Frame of reference was provided) 4.08 Quality 3.86 3.48 4.2 4 3.8 3.6 3.4 3.2 3 Honda Toyota Volkswagen Quality
- 15. Leadership/Popularity Rate thefollowing On a scale of 1-5 which is the most Innovative Brand amongst the following : Toyota ,Honda & Volkswagen? Which according to you is the most popular Brand of Cars in the range of 8- 12 lac amongst the following :Toyota ,Honda & Volkswagen? 3.88 3.48 3.58 4 3.9 3.8 3.7 3.6 3.5 3.4 3.3 3.2 Honda Toyota Volkswagen Innovation 0 10 20 30 Honda Toyota Volkswagen
- 16. Value for Money Rate the following Brands : Honda, Volkswagen & Toyota on a scale of 1-5 on Value for Money 3.54 3.86 3.4 3.9 3.8 3.7 3.6 3.5 3.4 3.3 3.2 3.1 Honda Toyota Volkswagen Value for Money
- 17. Brand Personality WhichWords do you associate with Honda Cars ? Status Class Excellent Driving Experience Luxury Trustworthy
- 18. Conclusion Brand Awareness-78% Customer Satisfaction - 79.2% People willing to recommend the Brand - 92% Net Promoter Score - 92%-8%=84% Ranks High on Quality & Innovation High Popularity Ranks 2nd on Value for money
- 19. Brand Health Customer Satisfaction Brand Strength Innovation Quality High Awareness Brand Stature Strong Association to Prestige & Luxury
- 20. Recommendations Mass MediaMarketing Brand Ambassador for Brio Launch Diesel variants More product options