Hyundai Pitches Luxury in the U.S.

The article, "Hyundai Pitches Luxury in the U.S.," talks about the Korean automaker which was the industry's fastest-growing major player earlier this decade, is nowadays stuck in neutral where Hyundai's cars have been less competitive when compared with Japanese and U.S. rivals. Even though they have still outscored Toyota and Honda in new-car quality in two of the last four years, the company has only seen lackluster sales. However, Hyundai executives think they have just the right car and pricing strategy to break into the higher-margin arena for premium-priced cars by introducing the Genesis, which they claim to be either better or just as well as the BMW 5 Series and Mercedes-Benz E-class models. The company is hoping the car will "put to rest the stigma of the cheap, crude vehicles Hyundai made in the 1990s" (BusinessWeek.com).

Those affected include of course the company itself, which includes its owners and managers, along with all the other stakeholders of the company.

2009 Mercedes-Benz E350 photographed in Silver Spr...

Hyundai Sonata GLS and Hybrid (US)

Hyundai Genesis (US)

Along with them are the investors of the company, distributors, suppliers, and the employees. Most importantly are their customers who lose confidence in the quality of the company's products which leads to the companies image and reputation being destroyed as it has for some years now.

I believe that if Hyundai keeps introducing higher quality cars at lower prices than other car industries then people's perceived quality of the company will eventually change. Marketing will play a critical factorwhere the company will need to develop an effective promotional strategy to motivate and convince people that their cars are much higher in quality than they were in the past and better than most car companies today. Advertisement and will help convince people that their perceived quality of their cars should be different and they should use test marketing to get customer...