Question

In 5-7 paragraph please prepare a Marketing Strategy for Honda Motor Company?

Answer 1

Marketing Strategy for Honda Motor Company

Honda Motor Co. Ltd. was founded in 1948 and since then have come a long journey to emerge as a world's largest 2-wheeler manufacturer and one of the largest automaker in the international market. During it's long way, the company has introduced several types of vehicles like SUVs, Sedan and hatchback motorcycles

The Honda's strategy is directed towards high volumes per model, providing low costs and high productivity. Their company succeeded in US by introducing a new product (small motorcycles) with a price generic competitive strategy expanded the market for motorcycle in the US . The Honda Company has always prepared a strong marketing strategy with capacity, capital and technical capability to enter the US market. They have invested heavily in R&D and mass production infrastructure as a result Honda’s productivity was very high compared to competition.

The primary target is to grow market share ("market penetration") and defend that at any cost. It's strategy highlights on below given points:

-- Products are redesigned or updated whenever a market opportunity or threat is perceived. It introduces the updated designs and models of Honda motorcycle every year and the customers prefers to buy with unique features in the latest models, that are available in the market at reasonable prices. The company pays attention to the quality and variety of the products and services, which are introduced in the market.

　

--Prices are set at levels designed to achieve market share and will be reduced if required. Before setting price, Honda decide on its overall marketing strategy for the product or service. If Honda has choosen its target market and positioning carefully, then the marketing mix strategy, including price, will be fairly straightforward.

--Warranty and service is important, and to achieve this Honda is willing to take short term losses for building a wide selling & distribution network.

--The company is spending heavily on promotions of the product. It consistently outspent competition in advertising ever since it's been in the market. Honda also uses traditional advertising channels such as print, electronic, and outdoor media for advertising and sales promotion of the goods

--The company has the global standard, thus the quality of the products has the strong and persistence of engine, which has low waste fuel and it pays attention to the environment protection. The company hires professional technical staff and provide training and upgrade the skills of the staff to ensure the quality of their products along with working of its engines and other spare parts