A Study On Brand Repositioning Strategy of New Hyundai Santro in Nagpur

A STUDY ON BRAND REPOSITIONING STRATEGY OF NEW HYUNDAI SANTRO IN NAGPUR
INTRODUCTION
Tirpude Institute of Management Education 1

INTRODUCTION
The rapid pace of change and intense competitive pressure in today's

marketplace demand that brands continuously innovate and reinvent themselves
to maintain their relevance and market position. In this context, brand
repositioning and other revitalization strategies have become a business
imperative for battling brand erosion. The appeal of brand repositioning is
further heightened by the rising costs and high risk associated with launching a
new brand.
Brand repositioning has received little attention in the marketing

literature and has mostly been treated as a variation of brand positioning. Biel,
for example, has defined brand positioning as "building (or rebuilding) an image
for a brand". The goal of positioning and repositioning strategies relates to the
management of consumers' perceptions. However, positioning focuses on the
creation of brand associations - consumers' perceptions of the attributes that
differentiate the brand from competitive offers – while repositioning also
implies managing existing brand associations. The unique challenge of a
repositioning strategy, thus, lies in rejuvenating the brand image to make it
relevant in an evolving environment, while honoring the brand equity heritage.
Repositioning can be required as the market changes and new

opportunities occur. Through repositioning the company can reach customers
they not intended to reach in the first place. If a brand has been established at
the market for some time and wish to change their image they can consider
repositioning, although one of the hardest actions in marketing is to reposition a
familiar brand.

According to Solomon, position strategy is an essential part in the

marketing efforts because companies have to use the elements in the marketing
mix to influence the customers understanding of the position. During the
movement from something less attractive and relevant towards a more attractive
and relevant position several of strategic choices has to be made. The ones
responsible for the repositioning have to evaluate why a reposition is necessary,
and if the offer is the one who will change or just the brand name. There are
several risk factors that have to be taken into consideration when preparation for
a repositioning of the offering or the brand. During repositioning, the risk of
losing the credibility and reliability is high and the need for a thorough strategy
is therefore necessary to avoid this occurrence. Some analyst argue that to
successfully reposition a establish brand name is almost impossible because
repositioning of a brand can make the most loyal customer to switch brand. But,
in some circumstances a repositioning is necessary to gain credibility if the
brand is eroded. Whenever a reposition is in question it has to be of relevance
from a customer perspective, is this achievable? Some brands will on no
account be thought on as a luxury brand and therefore an attempt to reposition
will only damage the brand image or the actual company.
Numerous failed attempts at brand repositioning testify to the difficulty of

developing and implementing such a tactic. For example, while the soft drink
brand, Mountain Dew has remained relevant to the youth market through
continuous repositioning in its thirty years of existence, Levis' Jeans has been
losing market share to newcomers such as The Gap, despite numerous
campaigns designed to reposition the brand as trendy.
The strategic importance of brand repositioning in preserving and

enhancing brand equity, coupled with the mixed results of repositioning
attempts, underscores the need to develop a better understanding of the

dynamics of brand repositioning. Specifically, questions of whether, when and

how brands should be repositioned need to be addressed. Research into brand
repositioning is relevant not only to the development of brand management
theory, but also extends to corporate strategy through an examination of
corporate brands.

COMPANY PROFILE

COMPANY PROFILE
Hyundai Group is a South Korean business conglomerate headquartered

in Seoul. It was founded by Chung Ju-yung in 1947 as a construction firm and
Chung was directly in control of the company until his death in 2001.
Following the 1997 East Asian financial crisis and Chung's death, Hyundai
underwent a major restructuring and break-up, which reduced the Hyundai
Group's business to encompass only container shipping services, the
manufacturing of lifts, and tourism. Today, most companies bearing the name
Hyundai are not legally connected to Hyundai Group. They include Hyundai
Motor Group, Hyundai Department Store Group, Hyundai Heavy Industries
Group and Hyundai Development Company. However, most of the former
subsidiaries of the Hyundai conglomerate continue to be run by relatives of
Chung. If these companies were considered as forming a single broad family
business, then it would remain the largest company in South Korea with
enormous economic and political power in the country.
By the mid-1990s Hyundai comprised over 60 subsidiary companies and was

active in a diverse range of activities including automobile manufacturing,
construction, chemicals, electronics, financial services, heavy industry and
shipbuilding.[4] In the same period it had total annual revenues of around US$90
billion and over 200,000 employees.
Hyundai branded vehicles are manufactured by Hyundai Motor Company,

which along with Kia comprises the Hyundai Kia Automotive Group.
Headquartered in Seoul, South Korea, Hyundai operates in Ulsan the world's
largest integrated automobile manufacturing facility, which is capable of
producing 1.6 million units annually. The company employs about 75,000
people around the world. Hyundai vehicles are sold in 193 countries through

some 6,000 dealerships and showrooms worldwide. In 2012, Hyundai sold over
4.4 million vehicles worldwide. Popular models include
the Sonata and Elantra mid-sized sedans.
The Asan Foundation, established by Chung Ju-yung in 1977 with 50 percent of

the stock of Hyundai Construction, subsidizes medical services in Korea
primarily through the Asan Medical Center and six other hospitals. The
foundation has sponsored conferences on Eastern ethics and funded academic
research into traditional Korean culture. In 1991, it established the annual Filial
Piety Award.

OBJECTIVES OF THE
STUDY

OBJECTIVES OF THE STUDY
 To understand the market potentiality for Hyundai Santro.
 To determine the acceptable price of the product.
 To determine the requirements and needs of the potential customers.
 To know what people perceive and thinking about Hyundai Santro and its
products.
 To analyze the brand repositioning strategies of Hyundai Santro.
 To study consumer awareness and perception about the brand

repositioning strategies of Hyundai Santro.
 To find out the satisfaction level of people.
 To find out the awareness level of customer.
 To find the satisfaction amongst the customers of Hyundai Santro.

HYPOTHESIS

HYPOTHESIS
 There is no significant difference the preference of customers before

rebranding and after rebranding of Hyundai Santro.
 There is significant relationship between brand image and rebranding.
 There is no significant relationship between brand service and brand
repositioning.

LIMITATIONS

LIMITATIONS
 The study is confined to Nagpur area only.
 There is possibility of sampling errors in the study.
 The responses of the consumers may not be genuine.
 The questions included in the questionnaire may not be comprehensive.
 Continuous and reliable information was not available.
 Some of the information was confidential so much information was not

revealed.
 The time span of the survey was short and hence only major aspects were
considered.

REVIEW OF
LITERATURE

REVIEW OF LITERATURE
1) Journal of Marketing Management; Apr92, Vol. 8 Issue 2, p127-146,

20p
This paper examines the reasons for decisions to source a range of

imported food items by a large UK retailer, with emphasis upon a comparison
of decisions for manufacturer and retail brands. Previous studies of retail buying
processes are reviewed with particular emphasis on the food sector and retailer
label products. Possible differences in buying decisions for manufacturer and
retailer labels are advanced. Results of the present study show the importance of
quality considerations, the search for product variety and close matching of
products to overall market positioning.
2) Dot Foods, Inc. Source: Dot Foods, Inc.; Jun2007, p1, 8p
A company profile of Dot Foods Inc., the largest food re-distributor in the
U.S., is presented. An overview of the company is given, along with key facts
including contact information, number of employees and revenues. A SWOT
analysis is provided which includes strengths, weaknesses, opportunities for
improvement and threats.
3) McCormick& Company, Inc. Apr2007, p1, 9p
A company profile of McCormick & Co. Inc., which is engaged in the

manufacture, marketing and distribution of spices, herbs, seasoning blends and
other flavors to the entire food industry, is presented. An overview of the
company is given, along with key facts including contact information, number
of employees and revenues. A SWOT analysis is provided which includes
strengths, weaknesses, opportunities for improvement and threats.

4) Delhaize "Le Lion" SA; Jun2007, p5, 4p
A business analysis of Delhaize Group, a company engaged in the

business of food retailing, is provided, focusing on its strengths, weaknesses,
opportunities for improvement and threats to the company. Strengths include
market leadership. Weaknesses include declining revenue growth. Opportunities
for improvement include Growing demand for pharmaceuticals in the U.S.
Threats to the company include intense competition.

RESEARCH
METHODOLOGY

RESEARCH METHODOLOGY
The purpose of methodology is to describe the process involved in research

work. This includes the overall research design, data collection method, the
field survey and the analysis of data.
SOURCE OF DATA COLLECTION:
PRIMARY:
For my survey primary data have been used as a questionnaire to collect the
data.
SECONDARY:
The secondary data has been collected from the following modes:
 Magazines
 Books
 Newspaper
 Data through internet sources
RESEARCH DESIGN:
Research Design is the arrangement for conditioned for data collection &
analysis of data in a manner that aims to combined relevance to research
purpose with economy in procedure.
A research design is a master plan or model for the conduct of formal

investigation. It is blue print that is followed in completing study.

The research conducted by me is a descriptive research. This is descriptive in

nature because study is focused on fact investigation in a well-structured from
and is based on primary data.
RESEARCH PLAN
 Type of study: For completing my study I have gone for sample study
because looking at the size of population & the time limitation it was not
convenient for me to cover entire population. Hence, I have gone for
sample study rather than census study.
SAMPLING PLAN:
A sample design is a definite plan for obtaining a sample from a given
population. It refers to the technique or the procedure that researcher would
adopt in selecting items to be inched in the sample i.e. the size of sample.
Sampling plan is determined before data are collected.
STEPS IN SAMPLING PLAN:
SAMPLING FRAME:
The list of sampling units from which sample is taken is called sampling frame.
Rourkela City map was studied thoroughly and samples were selected from the
place in a scattered manner to get effective result.
SAMPLING SIZE:
Total sample size is 50. The following sample size according to area wise is as
follows:

SAMPLING PROCEDURE:
The selection of respondents were accordingly to be in a right place at a right
time and so the sampling were quite easy to measure, evaluate and co-operative.
It was a randomly area sampling method that attempts to obtain the sample of
convenient.
ANALYSIS:
The important factors and data’s collected were sequentially analyzed and
graphed.
FIELD WORK:
I have collected the data through medium called questionnaire collecting the
responses from 50 people in all. I had done my field work in the following area.
I started my project very first educating the respondents about my entire project,
and ask them to co–operate with me. Mostly all the respondent were aware of
this type of surveys. So I didn’t face any type of difficulty during my project in
the process of explaining and taking their responses on the questionnaire.

DATA ANALYSIS
&
INTERPRETATION

DATA ANALYSIS & INTERPRETATION

1. Had you been previously / currently owner of Hyundai Santro or had been
driving Hyundai Santro?
OPINION PERCENTAGE
Yes 35%
No 65%
Column1
65%
70%
60%
50%
35%
40% Column1
30%
20%
10%
0%
Yes No

2. Have you heard about new Hyundai Santro?
OPINION PERCENTAGE
Yes 82%
No 18%
Column1
82%
90%
80%
70%
60%
50% Column1
40%
30% 18%
20%
10%
0%
Yes No

3. How did you came to know about new Hyundai Santro?
OPINION PERCENTAGE
News paper 22%
Tv 18%
Social media (online) 35%
Other 25%
Column1
35%
35%
30%
25%
20%
Column1
15%
10%
5%
0%
News paper Tv Social media Other
(online)

4. Have you driven new Hyundai Santro?
OPINION PERCENTAGE
Yes 55%
No 45%
Column1
55%
60%
45%
50%
40%
Column1
30%
20%
10%
0%
Yes No

5. Do you know what changes made in New Hyundai Santro to make it a new
avatar?
OPINION PERCENTAGE
Yes, but not sure about the changes 60%
No , only looks are changed 40%
Column1
60%
60%
50% 40%
40%
30% Column1
20%
10%
0%
Yes, but not sure about the No , only looks are changed
changes

6. What do you think which is the best car in entry-level hatchback segment?
OPINION PERCENTAGE
Maruti Suzuki Celerio 20%
New Maruti Suzuki WagonR 35%
New Hyundai Santro 20%
Tata Tiago 15%
Datson Go 10%
Column1
35%
35%
30%
25%
20% 20%
20%
15%
15% Column1
10%
10%
5%
0%
Maruti New Maruti New Hyundai Tata Tiago Datson Go
Suzuki Suzuki Santro
Celerio WagonR

7. .Are you positive about the changes made in new Hyundai Santro?
OPINION PERCENTAGE
Yes 45%
No 25%
Different 30%
Column1
45%
45%
40%
35% 30%
30% 25%
25% Column1
20%
15%
10%
5%
0%
Yes No Different

CONCLUSION

CONCLUSION
 Company must improve their other factors for sale of its product other
than price, brand.
 Hyundai Santro have to advertise more about its product and nutrition on
television.
 An effective media for positioning
 Company have to focus on availability of brand at each and every place
so that consumer don’t switch over to other brands.
 Company should keep retaining their loyal customers by maintain their
brand image and quality.

BIBLIOGRAPHY

BIBLIOGRAPHY
Book Reference :-
 Kevin Lane Keller (2004), Strategic Brand Management, 2nd edition,

Pearson Education, New Delhi
 Consumer Behavior, 6th Edition, by Lean G.Sehiffman and Leslic

lazan Kanuk.
 Consumer Behavior, 6th Edition, by Hawkins, Best ad Coney.
 Brand Equity (Economic Times)
Web Sites :-
 www.google.com
 www.wikipedia.com
 www. Hyundai Santro.com

ANNEXURE

ANNEXURE
1. Had you been previously / currently owner of Hyundai Santro or had been
driving Hyundai Santro?
Yes
No
2. Have you heard about new Hyundai Santro?

Yes
No
3. How did you came to know about new Hyundai Santro?
News paper
Tv
Social media (online)
Other
4. Have you driven new Hyundai Santro?
Yes
No
5. Do you know what changes made in New Hyundai Santro to make it a new
avatar?
Yes, but not sure about the changes
No , only looks are changed
6. What do you think which is the best car in entry-level hatchback segment?
Maruti Suzuki Celerio
New Maruti Suzuki WagonR
New Hyundai Santro
Tata Tiago
Datson Go
7. .Are you positive about the changes made in new Hyundai Santro?

Yes
No
Different

A Study On Brand Repositioning Strategy of New Hyundai Santro in Nagpur

Caricato da

Informazioni sul documento

Titolo originale

Copyright

Formati disponibili

Condividi questo documento

Condividi o incorpora il documento

Opzioni di condivisione

Hai trovato utile questo documento?

Questo contenuto è inappropriato?

Copyright:

Formati disponibili

A Study On Brand Repositioning Strategy of New Hyundai Santro in Nagpur

Caricato da

Copyright:

Formati disponibili

A STUDY ON BRAND REPOSITIONING STRATEGY OF NEW HYUNDAI SANTRO IN NAGPUR

Tirpude Institute of Management Education 1

The rapid pace of change and intense competitive pressure in today's

Brand repositioning has received little attention in the marketing

Repositioning can be required as the market changes and new

Tirpude Institute of Management Education 2

According to Solomon, position strategy is an essential part in the

Numerous failed attempts at brand repositioning testify to the difficulty of

The strategic importance of brand repositioning in preserving and

Tirpude Institute of Management Education 3

dynamics of brand repositioning. Specifically, questions of whether, when and

Tirpude Institute of Management Education 4

Tirpude Institute of Management Education 5

Hyundai Group is a South Korean business conglomerate headquartered

By the mid-1990s Hyundai comprised over 60 subsidiary companies and was

Hyundai branded vehicles are manufactured by Hyundai Motor Company,

Tirpude Institute of Management Education 6

the Sonata and Elantra mid-sized sedans.

The Asan Foundation, established by Chung Ju-yung in 1977 with 50 percent of

Tirpude Institute of Management Education 7

Tirpude Institute of Management Education 8

OBJECTIVES OF THE STUDY

 To understand the market potentiality for Hyundai Santro.

 To determine the acceptable price of the product.

 To determine the requirements and needs of the potential customers.

 To analyze the brand repositioning strategies of Hyundai Santro.

 To study consumer awareness and perception about the brand

 To find out the satisfaction level of people.

 To find out the awareness level of customer.

 To find the satisfaction amongst the customers of Hyundai Santro.

Tirpude Institute of Management Education 9

Tirpude Institute of Management Education 10

 There is no significant difference the preference of customers before

Tirpude Institute of Management Education 11

Tirpude Institute of Management Education 12

 The study is confined to Nagpur area only.

 There is possibility of sampling errors in the study.

 The responses of the consumers may not be genuine.

 The questions included in the questionnaire may not be comprehensive.

 Continuous and reliable information was not available.

 Some of the information was confidential so much information was not

Tirpude Institute of Management Education 13

Tirpude Institute of Management Education 14

1) Journal of Marketing Management; Apr92, Vol. 8 Issue 2, p127-146,

This paper examines the reasons for decisions to source a range of

A company profile of McCormick & Co. Inc., which is engaged in the

Tirpude Institute of Management Education 15

4) Delhaize "Le Lion" SA; Jun2007, p5, 4p

A business analysis of Delhaize Group, a company engaged in the

Tirpude Institute of Management Education 16

Tirpude Institute of Management Education 17

The purpose of methodology is to describe the process involved in research

SOURCE OF DATA COLLECTION:

A research design is a master plan or model for the conduct of formal

Tirpude Institute of Management Education 18

The research conducted by me is a descriptive research. This is descriptive in

STEPS IN SAMPLING PLAN:

Tirpude Institute of Management Education 19

Tirpude Institute of Management Education 20

Tirpude Institute of Management Education 21

DATA ANALYSIS & INTERPRETATION

Tirpude Institute of Management Education 22

2. Have you heard about new Hyundai Santro?