Toyota, Hyundai, Honda USPs and PTMs
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This document provides an overview of Toyota, Hyundai, and Honda, including their company profiles, leadership, products, target markets, and unique selling propositions (USPs). Toyota's USPs include its wide range of cars, quality, international presence, and reliability. It targets young executives, businessmen, and urban families. Hyundai's USP is affordable prices and it targets young executives. Honda's USP includes its emphasis on safety, comfort, and design, targeting a similar demographic to Toyota. The document also discusses challenges like declining small family car markets and the need to emphasize hybrid models.
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Toyota, Hyundai, Honda USPs and PTMs
- 1. UNIQUE SELLING PROPOSITION Marketing Management Group 3 • Renezardo Cruz • Allysa Buenaventura • Brian Lanoria • Henry Dela Cruz
- 2. Introduction Toyota Company Overview o Toyota USP o Toyota PTM Toyota Competitors Hyundai Company Overview o Hyundai USP o Hyundai PTM Honda Company Overview o Honda USP o Honda PTM Summary
- 3. Company Profile Toyota Motor Corporation • President Akio Toyoda • Date Founded August 28, 1937 • Capital 635 billion yen • Main Business Activities Motor vehicle production and sales • Number of employees 74,132
- 4. Toyota Head Office (Honsha) 1 Toyota-Cho, Toyota City, Aichi Prefecture 471-8571, Japan Toyota Head Office (Tokyo) 1-4-18 Koraku, Bunkyo-ku, Tokyo 112-8701, Japan Toyota Head Office (Nagoya) 4-7-1 Meieki, Nakamura-ku, Nagoya City, Aichi Prefecture 450-8711, Japan Toyota Head Offices
- 8. Competitors
- 11. EUISUN CHUNG | Chairman “ The evolution of mobility is an act of creating new time and ultimately of providing people opportunities to discover new happiness and joy.”
- 14. PRIMARY ✓
- 16. Established September 1948 President and Representative Director Takahiro Hachigo Main Products Motorcycles, automobiles, and power products Company Name Honda Motor Co., Ltd. Head Office 2-1-1, Minami-Aoyama, Minato-ku, Tokyo 107- 8556, Japan
- 18. PRIMARY
- 19. What has changed & What needs to be done To survive?
- 20. Renaming of Toyota Auris Model Declining Market of Small Family Car Chosen to test Toyota’s strategy: Emphasize hybrid models Convert 90% 0f Corolla buyers STYLING. TECHNOLOGY. ADVANCE SAFETY $19,600 Don’t get left behind. Keep moving with the Corolla Hy 45%
- 21. UNIQUE SELLING PROPOSITION Let’s Go Places New Thinking New Possibilities The Power of Dreams PTM Young Executives, Businessmen & Urban Families Young executives from the upper-middle income bracket Young executives from the upper- middle income bracket USP Wide range of cars Safety Designer, Comfortable Wide services & Distribution network Quality Luxury Cars International Presence Reliability Affordable Prices
Editor's Notes
- Huge, efficient R&D spending has allowed Toyota to gain a competitive advantage over its competitors and to become one of the largest automotive manufacturers in the world by researching and introducing the leading-edge technology and vehicles to the consumers. There are a lot of automotive manufacturers around the globe. From Amsterdam, Wolfsburg, United States, Korea, Germany and Japan. But for this discussion, we will be focusing on 2 of Toyota’s biggest competitor, Hyundai and Honda.
- Hyundai’s brand slogan “New Thinking. New Possibilities.” encompasses Hyundai’s new brand concept, “Modern Premium,” which aims to provide customers with emotional value and experiences beyond expectations through new thinking and new possibilities. The brand slogan direction also captures the spirit of change at the automaker, which has shown dramatic growth in all areas of business.
- “ The evolution of mobility is an act of creating new time and ultimately of providing people opportunities to discover new happiness and joy.” The Chairman of Hyundai Motor Euisun Chung believed that “Shifting market dynamics and customer needs are changing the meaning of `premium,’” “Today, customers do not believe that expensive cars with unnecessary technology are premium. They no longer want to simply show off their status. Instead, they want their core needs fulfilled at an accessible price and with a car that exceeds their expectations; a car that reflects their values and the times in which they live.”
- Globally, Hyundai Motor Group has 11 manufacturing plants in 19 countries. They operates the world’s largest integrated automobile manufacturing in Ulsan, South Korea which has an annual production capacity of 1.6 million units. HMG has a total of 6 R&D in 12 countries. Hyundai Motor Group to establish agile R&D structure to pre-empt changing markets Architecture-Driven System-Based Organization to streamline vehicle development process New Vehicle Architecture Development Center to reflect market demands from the initial concept development phase New Virtual Vehicle Development Group to implement efficient virtual vehicle development process In July 10, 2019 - Hyundai Motor Group (the Group) has begun a series of sweeping changes to its R&D organizations and development processes.
- HMG cumulative sales has a total of 107.58 M USD. 31.01 Million USD are performances derived from domestic activities and 76.57M USD from international sales.
- The primary target market of Hyundai are the young executives from the upper middle income bracket. In the Philippines, upper-middle income bracket individuals are typically are in the age of 30 and has an annual household income of 480,000 pesos with a target net worth of 1,440,000 average annual wage. An individual with a net worth of wealthy amounting to 16,620,000 at the age of 30 is already considered as a wealthy individual.
- Next competitor is Honda. Honda believes in The Power of Dreams. But believing isn’t enough. As Soichiro Honda said: “Action without philosophy is a lethal weapon; philosophy without action is worthless.” Dreams inspired Soichiro Honda to create a company and continue to inspire and challenge people. Those dreams continue as Honda brings them to life and moves society forward.
- Honda with the power of dreams has a total capital of 86 billion yen or 791M USD. They have a total of 29.83M units global sales comprised of 19.28M motorcycle, The popularity of Honda bikes is ascribed to the company's meticulous attention to quality and customer satisfaction. They are also practical, durable, safe, and easy to repair. A thick web of Honda services and repair centers spread across the country further adds confidence to buyers. They were also able to sell 4.85M units of automobile globally and 5.7M units of power products. The unified manpower of Honda runs approximately 218,674 employees globally and 25,379 are non-consolidated bringing a total of 244,053 employees who believes in the Power of Dreams. Honda also has a total of 430 companies comprised of 357 consolidated subsidiaries and 73 equity method affiliated companies. Honda has a consolidated sales revenue of 14.9 billion yen or 137M USD for FY 2020. They have a total of 633.6 billion yen or 5.8 billion USD. All of these are the result of great effort and the Power of Dreams Soichiro Honda has shared around the world.
- The primary target market of Honda are the middle-income group people who are looking for vehicles whether they be driven with two wheels or four wheels. They target the group of consumers that want reliable and somewhat affordable cars. They also want cars that aren’t going to cost much to maintain. They target the market of motorcycle rides in cities with their motorcycle lines. They offer larger SUVs and vans that target more of a family type household that needs more room in their vehicles. Honda also offers more sporty type cars that target the younger consumers and older aged consumers.
- The renaming of Toyota’s Auris model as the Corolla brought back a name that may have been familiar to many Toyota drivers from the past, while spearheading a strategy to steer customers towards unfamiliar new technology. The small family car – itself a declining market segment as buyers switch to SUVs and crossovers – was chosen to test Toyota’s strategy to emphasize hybrid models, and to increase production of them. The plan meant Toyota would need to encourage 90% of Corolla buyers into the more expensive hybrid versions. Along with the new name, the revived Corolla would boast new styling and improved specifications that sought to address critics who called the Auris dull. But it would see a hefty price increase compared to the old model, with hybrid versions typically costing around €3,000 more than a petrol-powered Corolla. A key consumer insight was that mainstream car buyers are keen not to be left behind by technology trends, even if they are reluctant to be early adopters. The challenge for the 2019 launch of the Corolla was to communicate the tangible benefits of its hybrid technology, which offers lower emissions than purely petrol cars without some of the perceived range and charging limitations of fully-electric vehicles. Toyota also wanted to address consumer misconceptions about hybrids, and to highlight conventional performance benefits rather than environmental ones. The campaign message developed with The Partnership – ‘Don’t get left behind. Keep moving with the Corolla Hybrid’ – summed up these concepts, with the creative treatment showing a Corolla passing a succession of historic and then modern vehicles. Consumers got the message, with interest in and consideration of the Corolla jumping sharply, and sales increasing by a substantial 45% compared to the previous Auris model. This all culminated in Toyota winning the 2020 Marketing Week Masters award for automotive.
- In Summary, Toyota’s Slogan, Let's Go Places is the verbal expression that captures the essence of the Toyota brand. It's the enduring spirit that inspires people to live life to the fullest, whatever their adventures may be and wherever they may take them. Toyota’s Primary Target Market are the young executives, Businessman and Urban Families. And the Unique Selling Proposition of Toyota is that Toyota has wide range of cars wide services, distribution network and international presence. Hyundai’s slogan encompasses Hyundai's new brand concept, “Modern Premium,” which aims to provide customers with emotional value and experiences beyond expectations through new thinking and new possibilities. Hyundai’s primary target market are young executives from the upper-middle income bracket The unique selling proposition of Hyundai is commitment to safety, quality and reliability of products. They believe in making Modern Premium Cars with innovative technology, cutting edge design and global quality standards. A Hyundai car is made with utmost care and regard for consumer and their families. Honda believes in The Power of Dreams. But believing isn’t enough. As Soichiro Honda said: “Action without philosophy is a lethal weapon; philosophy without action is worthless.” Dreams inspired Soichiro Honda to create a company and continue to inspire and challenge people. Those dreams continue as Honda brings them to life and moves society forward. Honda’s primary target market are young executives from the upper-middle income bracket The unique selling proposition of Honda offers designer, comfortable and luxury cars at affordable prices