Topic

Expanding Hyundai Automotive Business into Myanmar Market

Instructions

All products/services go through a life cycle of NPI (new product introduction), growth, maturity and decline. These various stages affect the marketing strategy and promotional efforts. In Week 3, you will incorporate a product strategy that addresses at least 3 areas of the product life cycle. The primary objective of this assignment is to allow the student to demonstrate an understanding of the factors that can affect the launch of a product or service. A secondary objective is to understand the differences in a product launch in the U.S. (domestic market) and an international market.

Assignment Steps

Generate a minimum 700-word product strategy in Microsoft^®Word.

Incorporate a product strategy that addresses the following:

At least three areas of the product life cycle (NPI-new product introduction, growth, maturity and decline).
How you will measure (what metrics will be used to determine success or failure) the marketing activities.
Create at least two different types of media methods for the products. One media method must be a print method and one must be non-print. A media method is a media strategy which highlights your product. For example, a non-print media method would be a Facebook campaign that provides a user a reward for each review, positive or negative, posted about the use/appearance/price/etc. of the product. In your assignment, you should have 2-3 sentences about each media method (i.e. one paragraph of what you would do, not how to do it).
Address three elements of the Product and Promotion List (see below).
- Product and Promotion List:
  - Integrated Marketing Communication
  - Advertising Strategy/Objectives
  - Push and Pull
  - Media Strategy
  - Advertising Execution
  - Direct Marketing
  - Public Relations/Strategies
  - Positioning

Answer preview

Seeking to materialize on the opening up opportunity in Myanmar, where over 90% of its car market will be transitioning from buying second-hand cars into new ones following government order (Nitta, 2017), intensified research on the income level, preferences, and road structure and development will offer insights to what type of new car demand is the most ultimate. Findings of this demographic, geographic, and socio-economic status will be used to identify functionality specs to use in the new Hyundai car based on expected cost-efficiency, interior design, and fuel-efficiency. Full-developed car will then be launched in Myanmar market.

Word count: 803