Essay About Hyundai Motor Co. And Approach Hyundai

Hyundai Case Study
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According to at the text, competitive behavior is the set of competitive actions and responses a firm takes to build or defend its competitive advantages and to improve its market position.  The Hyundai Motor Co. is a Korean based automobile manufacture. Hyundai wants to sell more cars for led than the competition. To, offer lower prices, it had to reduce the cost and by doing this Hyundai’s competitive behavior could be considered as a late-mover. A late-mover is a firm that responds to a competitive action a significant amount of time after the first mover’s action and the second mover’s response. A late mover also uses the failures of other companies as a wakeup call to improve on its products. However, with this approach Hyundai allows it to be aware of the products required in the market and Hyundai can get a true taste of the customers. The approach is limited but Hyundai has a stronger marketing strategies. According to the text, competitive dynamics refers to all competitive behaviors that is, the total set of actions and responses taken by all firms competing within a market. The first factor is the competitiveness in the automotive industry. Hyundai and other automakers uses the introduction of new products in the market as its competitive dynamic. Hyundai does many researches from technology to philanthropy. Hyundai is always looking for better ways to develop cars that are more affordable and better technology to reduce operation costs for cars. Hyundai aims to introduce new vehicles that are more economical as compared to the products that are available in the market. Hyundai also aims to produce vehicles that compete competitively in terms of prices in the automobile industry. Second, the factor is the price of gasoline. When gasoline prices increase, the sale of automobiles will decrease. Hyundai wants to have a good relationship with every car, therefore Hyundai lower the prices. Hyundai has also offered a 10-year/100,000-mile warranty on every car. Customers love this, so they will purchase with peace of mind.