Case Study Of Honda's Marketing Strategies

Question 1(i)

Marketing is an important element that act as the backbone of any industry. A company can have excellence service and fine products but consumers segment must receive the message about the service or products. This is where the marketing aspect plays important roles to create successful business strategies.

One of the business strategies that is known to create success is offering compelling customer satisfaction. Marketing strategies is a way to communicate product features to customer community. By just announcing that a company launched a new product will not attract customers or the name of the products will not satisfy customers. Through product aspect of marketing, companies communicate specific features of their products (Hutt & Speh,

Communication with the consumer segment will be made easy for Honda with the product feature of the marketing mix tool. Their message to consumers will be value added when product features are communicated.

Honda now can incorporate with another business to increase their sales volume. For example the company has business deal with auto parts and accessory suppliers from many different brands. The company can combine their business strategies with a leather company for example. The leather company may also supply products for other industry consumers other than automotive industry. Therefore consumers from the other industry will also divert to Honda cars when the leather company operates under the name of Honda.

Knowledge of marketing management will create better work process for Honda’s marketing team. Instead of creating a regular marketing techniques, the company will now can create systematic approach to market their cars. This company may research and select their target markets before investing in creating marketing strategies. This will be cost savvy for the marketing