Market Research For Honda

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Market research is a way to ensure the success of marketing campaigns. This is because through market research will allow identification of new opportunities and design better marketing campaigns. This will directly target the potential customers and increase sales because potential customers will most likely to purchase the product and marketing campaign do not go in waste. Marketing research will allow consumers to be identified according to their specific needs. This will not cause any unwanted expenses on the company (Grover & Vriens, 2007).

Market research will help firms to keep tracking the rival companies and its activities. This is because customer survey is part of market research activities. Firms can survey overall consumer segment from the same industry. Therefore consumers using products of rival companies also possible to be surveyed. Through these surveys firms can identify strengths and weaknesses of rival companies. Firms able to design their
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Analysis showed that firms can strategically convey their marketing approaches to the correct target if they can position well. There are two market segments for Honda. The first segment is families in the lower salary group and looking for options to buy their very first car. Malaysian society do consists of these types of target market. These targets are easy to be connected through Honda car such as Jazz. This specific target segment is hugely reflect the car company’s target customers. The high income group is the second market segment. This too is one of the biggest target group of Honda. The primary survey results showed that both high income and low income salary people are Honda consumers. The second target usually will look for cars that are high in price and high in quality. This target is approached through models such as city, HR-V, Civic, CR-V, Accord and

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