Key Factors To Success Of Honda Motor

KEY ELEMENTS TO SUCCESS OF HONDA ACCORD

Informal research report

By: Tilak Reddy Ramidi

Student ID: C0671039 INTRODUCTION

Differentiation is the key factor that helps us to achieve success in the path we choose. Small changes that we do to our product makes quite a lot of difference to the consumer than we think and leads to the success of the product. Product differentiation looks to make a product more attractive by contrasting its unique qualities with other competing products, it creates a competitive advantage for the seller, as customers view these products as unique or superior (Investopedia). Automobile industry is at a fast growing pace and each and every day new technologies and features are bought to the market this theory stands true and differentiation makes quite a lot of difference in the consumers mind. Any distinct feature can make the product successful. This report will examine some factors that Honda adopted to its car Accord to make it a success. These are as follows:

• Marketing strategy of Honda

• Role Honda played when there was problem of engine transmission failure

• Safety and facilities offered to customers

• Parts and accessories

• Customer satisfaction and Awards

MARKETING STRATEGY OF HONDA

Don’t globalize, localize (Business insider), unlike the most of the other automobile leaders Honda adopts a different strategy that it does not believe in the top-down approach, where all the functions are controlled by the headquarters. They