Founded in 1948 Honda Motor Co. Ltd. have come a long way to emerge as a world’s largest 2-wheeler manufacturer and one of the world’s biggest automaker. With 370+ subsidiaries and 65+ affiliates, Honda is expanding its operations and business in different parts of the world.
Segmentation, targeting, positioning in the Marketing strategy of Honda Motors –
Honda motors use a mix of demographic, psychographic and geographic segmentation variables in order to understand the different markets aptly and satisfy the changing needs of the customers accordingly.
Honda has positioned itself as a value-based company whose objective is to enrich the lives of the people worldwide and give them the power to enjoy their life.
Vision- “Not Available”
Tagline-“The power of dreams”.
Competitive advantage in the Marketing strategy of Honda Motors –
Product portfolio– whether it is motorcycle segment or its automotive segment, Honda have large product portfolio addressing the needs of the different segments which help the company to build long-lasting relationships with the customers.
Subsidiaries and affiliates- Having a large number of subsidiaries (373) and affiliates (67) are helping the company is benefiting from the resources and expertise that the other company brings in.
Changing the business strategy– By dividing the world into 6 regions and each one to work autonomously is the great step that Honda has taken to remain focused and develop models on the region wise so as to cater to the changing needs of the various countries aptly.
BCG Matrix in the Marketing strategy of Honda Motors –
In the BCG matrix, its 2-wheeler and the automotive segment is the star due to having such a large product portfolio and strong in the markets it operates into.
Its aviation and telematics business vertical is a question mark in the BCG matrix.
Distribution strategy in the Marketing strategy of Honda Motors –
It uses the different channel of distributions such as authorised showrooms/dealerships, authorised service centres, resellers, DSA (direct selling agents) and the e-commerce sites to make their products available to the customers.
Brand equity in the Marketing strategy of Honda Motors –
Extensive branding and visibility campaigns have helped the company in creating high TOMA (top of mind awareness) and positive word of mouth which resulted in high sales.
Competitive analysis in the Marketing strategy of Honda Motors –
Honda Motors is widely known for its deep product portfolio ranging from the value for money segment to high-end segment with high CC and improved features. The kind of the technological advancement and expertise developed by Honda is commendable.
Honda is giving head-on competition to the companies in the markets it presents into in terms of its products and pricing of the products.
Market analysis in the Marketing strategy of Honda Motors –
The automobile market is saturated with a large number of companies hovering in the same market and eating up each other’s market share. Government regulations and local market forces such as political stability, currency fluctuations and labour cost play an important role in the success of the companies in this sector and Honda motor is not an exception to get affected by these forces by in large.
Customer analysis in the Marketing strategy of Honda Motors –
Customers of Honda motors are the middle-income group people who are looking for vehicle whether it is 2-wheeler or 4-wheeler, which suits their pocket and at the same time is value for money for them.