Honda Marketing Strategy

Soichiro Honda, the founder of Honda was borned on November 17, 1906 in Hamamatsu, Japan. In 1930’s, Soichiro Honda had a dream of turning his passion for cars into a business. He was determined to create a metal priston ring that he would manufacture and sell to Toyota, which was the leading car company at that time. After two years of tinkering his product, he finally submitted the final version of his product to Toyota but unfortunately, his product got rejected. However, Honda did not give up until Toyota and also other automobile companies approved his product. Therefore, he decided to build a manufacturing plan. To be able to get enough investment, Honda wrote letters to 18,000 bikes shops explaining his motorized bikes and how it would

It contains 4 important component, which is the Product, Promotion, Place and Price-4P. In other words, “putting the right product with the right price, at the price place and at the right time” to fulfill every different customer demand. A car for example, it has to contain its own unique feathers, design and function to satisfy every customer needs and it is the duty of every marketing manager to ensure that the company is doing profit with the development of the product. From the past until now, Honda has come out with many different car such as Honda City, Honda Civic, Honda Accord, Honda CRV as well as Honda

There is two component of marketing environment which is micro environment and macro environment. Micro environment is internal elements in an organization's immediate area of operations that affect its performance and decision-making freedom. These factors include competitors, customers, marketing Intermediaries, suppliers, and public and macro environment is external elements that exist outside of a company's control that can significantly impact its performance and ability to compete in its marketplace. One key part of Honda's motorcycle safety research has been careful analysis of the key statistics concerning accidents. Information from Japan, the US and Europe all show that frontal impacts represent over 50% of all crashes. It also has been confirmed that numerous injuries result from the rider's impact with vehicles or the road surface. In perspective of these truths, Honda engineers tried to reduce the incidence and severity of injuries by absorbing the energy of an impact and diminishing the rider's forward speed. To accomplish this target, Honda chose to add to a motorcycle airbag. In the case of a frontal impact, the airbag is intended to inflate and absorb a percentage of the rider's motor vitality. Subsequently, the power of effect between the rider and the vehicle or the street may be decreased, mitigating injuries. Honda’s have a lot of competitor