Creating a new future through ingenious thinking

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Reference no: EM133230624

Case: Hyundai South Africa The motor company, Hyundai (pronounced as Monday), was established by Chung JuYang in 1967. Hyundai and Ford (in a joint venture) build the first Hyundai motor vehicle in 1968. Hyundai is currently ranked as one of the top five largest automobile manufacturers in the world. It employs 75000 people, produces approximately 1.6 million units per annum and has over 6000 dealerships in 193 countries worldwide. Hyundai, South Africa is based in Bedfordview and was established in 1999.

The Hyundai mission is, "Realising the dream of humanity, creating a new future through ingenious thinking and continually challenging new frontiers". Hyundai South Africa offers a variety of models. The Palisade is its premium SUV. It was designed to spoil the driver and passengers. The interior offers plenty of leg, head and elbow room for the whole family. Some of the features are:

- Plush, sophisticated heated and ventilated seats

- Front electric seats that can remember more than one driver's favourite position

- Keyless entry and start

- Cruise control

- Multi-terrain mode

- Multifunctional steering

- State of the art technology

- Many more advanced safety and driving pleasures.

There are two Palisade models available (same price): a 7-seater and 8-seater. The Palisade is positioned as luxury at a grand scale with all the space a family needs. In South Africa the Palisade comes with a hefty price tag of R1 million plus. It is positioned as a luxury family SUV. Hyundai requested its advertising agency to develop a marketing campaign for the Palisade. The overall communication objective will be to create awareness of the Palisade and its features that will ultimately convert into sales. During a workshop with the creative team, it was realised that there is lack of understanding of what a luxury car buyer looks for when buying a luxury family SUV. The market research manager of Hyundai received a request to assist with a market research project. The target market was identified as wealthy families (three or more people in the family) with an annual income of R3 million plus.

Question 1: Research always starts with a problem or opportunity or both. Read the caselet and identify whether it is a problem, opportunity or both. Motivate your answer.

Question 2: As the market research manager, you are tasked to formulate (write) a detailed market research brief that will be used to brief at least two market research agencies. Make sure that you cover all the aspects of a market research brief

Reference no: EM133230624

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