Introduction
Hyundaimotorcompany(HMC)hasbecomeoneoftheleadingglobalcompanies.Ithassucceededinmakingitsbrandidentifiabletotheworldthroughitsadvancedproductivetechnologyskillsanduniquemarketingstrategies,whichbothmaximizeitsprofitandimpactwhileenhancingitsvalueandimageinaglobalmarket.Thishasbeensupportedintheexemplaryachievementsinforeigncountries.AccordingtotheHyundaireport(2010),HyundaiproductionshavebeenselectedasthecaroftheyearinNorthAmerica,Australia,MiddleEastorAfricafrom2003to2007aswellasinBeijingHyundaiMotorCompany.Hyundaicarsholdtherecordforexceeding1millionunitsinaccumulatedsalesintheshortestperiodin2008.Moreover,in2009anenginenamedTAUwasselectedasawinnerofthe10BestEnginesintheworld.
Thisreportwilldemonstratehowthecompanyhasbeendevelopedasaglobalproductanditsabilitytogeneratesalesindifferentmarkets.
Hyundaimotorcompanybackground
HyundaibusinessgroupisfamedasoneofKorea’soldestandmostsuccessfulfamilypossessedconglomerates.Lansbury,KwonandSuh(2006)reportedthatunlikeotherbusinessgroups,theHyundaigrouphadalreadymorethan60subsidiarycompaniesandover200,000employeesin1997.Thisrepresentsapproximately18percentofKorea’sgroupdomesticproduct.
ThenewmillenniumsawashiftintheHyundaimotorcompanysetup.AnewhardlinepolicybytheKoreangovernmentimplementedmeasuresthatpreventedSouthKoreaconglomeratesfromexpandingthesizeandinfluenceinthecountry.TheHyundaiconglomeratewasestablishedbyChungJu-Yungin1946,asasmallautorepairshop,butthecompanygrewenormouslythroughtheKoreanGovernment’ssupportduringthecivilwar.ThissupportresultedinmakingtheHyundaigroup’spowermuchstrongerthanthatofthegovernment.Asaresult,itwasconsideredanurgenttaskforthegrouptobeseparatedintoseveralsubsidiarieswithindependentmanagement.TheseparatedHyundaimotorcompany(HMC)waslaunchedin1968asacompleteknock-downassemblyunderanagreementwiththeFordMotorCompany(Kim,1998).Afteraccumulatingpivotaltechnologyfromthecountry,HMCproduceditsfirstoriginally-designedmodelnamedPonyin1976andsecondone,Excel,in1986withmorethan90percentofitspartsbeingsourcedlocallyandexportedwithalowcost.ThissuccessintheexportationofthesecarsinspiredHyundaiMotorCartomaketheirproductsmoredeveloped.Increasedresearchefforts,combinedwiththeacquisitionofadvancedautomobiletechnologiesandmanufacturingprocessesthroughjointventuresinseveralcountries.ledtoimproveddesignsandconstruction.KimandChoi,stated(2004)thatthecompanyiscontinuouslyendeavoringtosurpassotherautomakersinproductquality,investfurtherinthedevelopmentofinnovativeproductsandappealtotheevergrowingemergingmarkets,aswellastherapidlychangingglobalmarket.
HMC’sDomesticmarketingstrategy
Whenthecompanywasestablished,therewasnocompetitor,whichmeantthatHMCcouldacquireadvancedtechnicalknowledge,heightentheawarenessofitsbrandnametothepublicandmaketheuseofmonopolisticdomesticmarket.Regardingthis,Kim(1998)mentionedthatHMCcanformataskforceteamtolearnahigherpriortechnicalknowledgerelatedtoautomobileproductionfromtechnicallyadvancedautomo