preview

Hyundaicard Executive Summary

Better Essays

INTRODUCTION In 2009, HyundaiCard’s vice-president of marketing Jae-Woo Park met with several other marketing managers to discuss new strategies for the HyundaiCard in Korea. HyundaiCard entered the Korean credit card industry in 1999; they initially started with their “M” card that was targeted to their customers buying an automobile. This card proceeded to be a success and jump started their dive into the credit card industry to a full. Although the card was a success, HyundaiCard suffered from minimal customer count which is a key to becoming one of the leading players within the credit card industry. However, as a result of an innovative marketing plan they were able to establish themselves as on of the market leaders in the …show more content…

These two circumstances combine pose a great threat to HyundaiCard’s ability to achieve its goal as becoming the industry leader.

SITUATIONAL ANALYSIS (DISTINCTIVE COMPETENCIES) HyundaiCard has one distinctive core competency that sets them apart from their competition and that is their ability to capture customer usage data through their eCRM system. By integrating their website with the eCRM system, HyundaiCard was able to provide tailor made services through their website to the consumers. They were able to promote marketing campaigns with online business strategies and competitive online services. Lastly, they were able to upgrade the e-mail solutions in order to achieve the company’s objectives. Through this systems integration HyundaiCard was able to strengthen their customer relationship by analyzing customer tendencies and provide customized services for the individual credit card holders. They were also able to develop themed malls within the website based on card member’s tendencies. By integrating this customer information both online and offline, HyundaiCard has been able to connect with each card member personally and utilize the data from the website and the actual channel customer data to assist the marketing team with decisions on their strategies moving forward. This is very essential because it allows the marketing team to utilize real time

Get Access