Describe the Hovding marketing situation and what they should have done better to make them compete...

Describe the Hovding marketing situation and what they should have done better to make them compete in a regional economy?

Expert Solution

Hovding is the world’s first cycling airbag and it reached a sales of 50,000 units on a worldwide basis in 2017. The company’s marketing situation is based on its unique and innovative product and as such the marketing strategy of the company is based on the premise that it helps the customers to rationalize the amount spent on buying the airbag and the cost is small fraction of health care costs in case the customer is involved in an accident in which he/she is wearing a normal helmet or no helmet at all. The company makes use of targeted advertisement for marketing purposes.

To compete in a regional economy Hovding should have focused on niche areas and markets like vacation locations. It should also have had showcased the use of its airbag for both commuting and recreational cyclists and how the use of its product will make cycling a safe and cost efficient mode of transport for the region.

jeff jeffy answered 1 year ago

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