Honda Element Essay

775 Words May 17th, 2013 4 Pages
a Case Study about “The Honda Element”

Comment on the factors leading to success of the Element include Honda’s platform strategy as well as any other aspects oft he new product progress that you feel relevant.
The Element—a cost-efficient, new light truck from Honda—is conceived for the target Generation Y. This generation is a really lucrative market, almost as large as the “baby boom” generation. In this way, Honda used demographic segmentation to identify a segment with very high potential. According to market survey, the Honda cars are basically driven by young women and families, but not so much by young men.

The main idea of the product team was to develop an affordable, new design that target users would like to drive. To
…show more content…
This simple strategy worked out well, and the Honda Element was approved by the Honda management team.

The development of new car products is usually separated into several subsystems. In the case of the Element, these were exterior, interior, suspension and power train, which all had their own design strategy. The Element started to be delivered to dealerships in summer 2003. The brand’s name “Element” was the favorite in research studies with the target audience. According to the Generation Y target, the advertising wasn’t traditional. Honda created interest in auto enthusiastic groups, at auto shows, and at colleges. They also sponsored surf events and tailgate parties at universities.

In conclusion the Element reached 75,000 sales in 2004, which was clearly above the forecast. The typical Element buyer was across all age groups, mostly male and has a more active lifestyle than typical Civic buyers.

Try also to work out what the product innovation charter PIC might have been for the Element.
As the background, the Element by Honda should be a cost-efficient, light truck, especially for males of the Generation Y. It is positioned for the single individual with an unconventional lifestyle. The typical Honda guidelines are performance, safety and value. In case of this new developed car, the guidelines were added to with adaptability/modularity, authenticity, functionality,

More about Honda Element Essay

Open Document