Running head: PRODUCT OFFERING Ã¯Â¿Â½ PAGE \* MERGEFORMAT Ã¯Â¿Â½1Ã¯Â¿Â½ PRODUCT OFFERING Ã¯Â¿Â½ PAGE \* MERGEFORMAT Ã¯Â¿Â½7Ã¯Â¿Â½
November 8, 2010
This paper is about a product offering. This paper will focus on the launch of the hydrogen fuel-cell electric vehicle for South Korea's Hyundai Motors. I will begin my launch in this paper and complete it in week six. I will discussion several subjects to help with the launch of the new product. The discussions will be made on the market needs, market growth, a brief SWOT analysis, competition, product offering/product definition, product identification, and justification for choice of product.
The market for efficient and powerful yet affordable cars is in high demand. It holds the potential to be a revolutionary vehicle especially because in the hydrogen fuel cell combined with electric market not a single car or company currently has a commanding advantage.
If Hyundai can achieve a successful and trendy car launched before the competition then they would have a stranglehold on that market. Much the way that Toyota has become known for reliability and price, Hyundai would become known for fuel efficiency and price. A vehicle that can travel two to three times as far on the same amount of fuel would be something that would be much cheaper for consumers to use. Even if the initial price was slightly higher than existing cars the savings would be made up by lower fuel costs.
According to cnet.com. (2010) and Pike Research fuel cell vehicles will overcome current obstacles and the market will see growth within the decade. The United States is expected to be the largest fuel cell vehicle (FCV) market with about 134,000 vehicles sold annually, followed by China (129,000), and Germany (about...