When Hyundai first entered the Indian automotive market there were not many

When hyundai first entered the indian automotive

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When Hyundai first entered the Indian automotive market, there were not many automotive brands competitors in the industry. However, the industry’s competitive environment was slowly increase and now had become much more competitive than before. Their automotive competitors had been increasingly devising new and innovative methods to advertise their automotive products. For example, Volkswagen had done an advertising to capture the mindshare of Indian consumers by having Bollywood star Shah Rukh Khan as their brand ambassador which helps the promotion of their products through celebrity fame. Hyundai’s advertising in India however has been conservative and lacking on the innovative aspect in the advertisement promotions. 4A) Importance of Marketing Research Nowadays, market research is vital for every business, and should not be just a one- 3
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off activity. Successful businesses conduct research on a continual basis to keep up with market trends and to maintain a competitive edge (Al-Shatanawi, Osman and Halim, 2014). Market research provides relevant data to help solve marketing challenges that a business will most likely face--an integral part of the business planning process (Entrepreneur Media, 2019). Furthermore, the company can build up the priority way to be connected in terms of closes between company and consumer through the researching of marketing (PhD Essay, 2019). Therefore, Hyundai Motors India Limited can focus on the marketing area to obtain specific information which affects to increase profits. According to (Gupta & Benedett, 2007), marketing research can help Hyundai Motors India Limited (HMIL) to research into the characteristics, spending habits, location and needs of its business's target market, the industry as a whole, and the particular competitors it face. It can assist this case by focusing on HMIL’s marketing strategy on potential customers that want their product. Marketing research can be applied by acquisition and processing of primary and secondary data information about customers attitude and behavior and also product demand (McDonald, 2002). Primary data may be qualitative or quantitative in nature (Jarowski, Kohli & Arvind, 2000). Qualitative and quantitative market research can be applied to assist this case. Popular qualitative market research methods include focus group studies and depth interviews triads. Qualitative research is based on opinions, attitudes, beliefs and intentions. It aims to understand why customers behave in a certain way or how they may respond to a new product. Focus groups and interviews are common methods used to collect qualitative data. The data is often revealing and useful, but it is costly and time-consuming to collect, particularly for a start-up or small business (Creswell, 2003).
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