Hyundai's Target Market

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MARKET

Market is the collection of buyers and sellers that, through their actual or potential interactions determine the price of a product or sets of products. Buyers include consumers, who purchase goods and services, and firms, which buy labour, capital and raw materials. Sellers include firms, which sell their goods and services, workers, who sell their labour services etc. Different products have different markets.
In Economics: Market is a structure where buyers and sellers exchange any type of goods, services and information.

TARGET MARKET

Target market is a group of customers or individuals who are separated from rest of the market by a business before hand to aim its products and services to that particular group.

TARGET MARKET …show more content…

That apart, the Grand i10 had to challenge the competetion of Maruti 's Swift in the compact high segment and target young adults looking for stylish, spacious vehicle available at an affordable value. The car, meant for personal commuting, city driving and highways is given a sporty, aerodynamic and trendy styling, along with features like a smart key with a push-button start, rear AC vents, auto-folding mirrors and so on. Hyundai invested over Rs 1,000 crore on product development.

The Hyundai i10 targeted an age group of 25-35 years, and so a youthful and smart brand connection was essential. "The positioning line implied that this brand is the new currency that expresses the lifestyle of affluent car buyers with an element of individuality,"

MARKET STRUCTURE

Market structure refers to all firms that produce identical products which are homogeneous.
There are different types of market structures such as monopolistic competition, oligopoly, monopoly, perfect competition and monopsony.
Differentiated oligopoly market structure which comes under oligopoly is the market structure for Hyundai Motors India.
Hyundai and all the other firms (competitors) that produce similar products form a market structure.
Competitors of Hyundai are:
1. Honda
2. Toyota
3. …show more content…

The highest number of i10 cars sold (162) is from TRIDENT HYUNDAI in the month of February.

GRAPH- 1

INFERENCE
From the above chart we can derive that the highest sales is in the month of February of 162 cars and the least is in the month of October of 21 cars. There is a huge downfall in the demand in the month of March from 162 in February to 95 and again in the month of April it increased to 102 from 95 and then from the month of May till October there is a continuous downfall in the demand of i10.

GRAPH- 2

INFERENCE
From the above chart we can derive that the highest sales is in the month of February of 28 cars and the least is in the month of October of only 5 cars. There is a decrease in the demand in the month of March from 28 in February to 20 and again in the month of April it increased to 25 from 20 and then from the month. The demand is same in the month of May and July of 18 cars.

GRAPH- 3

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