Case analysis for Hyundai Card Essay

As a latecomer in Korean credit card market, Hyundai Card has gradually increased the market share since it entered the business in 1999. With its tie with Hyundai motor group, the company branded itself as â€Å"Hyundai M Card†. It started off by attracting buyer to consider using the card to purchase Hyundai automobile by offering discount. In later stages, the company has adopted the customer segmentation strategy to diversify its target groups of clients. With the emphasis on market segmentation based on different groups of card holders, utilizing clients’ card usage data, it has led to the unique customized service via alphabet card marketing activities. The strategy has led to great success, Hyundai Card received a Number One ranking in the Korea’s National Customer Satisfaction Index. The Korean credit card market has experienced a period of overheating due to a rapid expansion in the number of cards, reduced standards for issuing cards, etc. However, in recent years, Korean government has tighten up the policy in the credit card industry, and it results in lower % returns for the card issuer. The market has become saturated, consumers are having too many different options in card for different needs. But the fact is that most people are only using 1 or 2 cards, and the rising cost of operating business also presents an area of concern for major card player like Hyundai Card. Background Hyundai Card is a credit card company in South Korea. Hyundai Motor Group and GE Capital are two of their largest shareholders. The company entered the credit card business in 1999 through the acquisition of Diners Card as a subsidiary. In 2001, the card’s name was changed to â€Å"Hyundai Card†. Credit card business in South Korea is a competitive market. According to a report of The Economist, Korea has the equivalent of 4.4 cards for every  member of the labor force. And Koreans made frequent transactions with credit card, on average, each Korean swipes card for 129.7 times in 2011. That number has well exceeded Americans (77.9) and Canadians (89.6). Hyundai Card is the fourth biggest credit card issuer in South Korea. As per stats in May 2007, it captures a 9.96% share of the market. The Korean credit card market is led by Koomin (16.21%), LG (16.08%), Samsung (12.33). Among the major players in the credit card market, Hyundai is considered as a latecomer. Current Situation Hyundai card has continued to increased its market share in the competitive Korean market. As per stats at the end of 2012, Hyundai Card had a market share of 14.3%. And Hyundai Card has also received a good market reputation being ranked as Number One in the Korea’s National Customer Satisfaction Index. Critical Marketing Issue The credit card industry has underwent an adjustment period. Credit card company experience a growth in the number of late payment and bad debts. And the card market has become saturated, as there are too many card products in the market, which card caters for different need. In fact, most card holder only uses 1 or 2 credit card to purchase. Another is the political factor of the tightening government policy, it has also present a problem to card issuers as they are having lower % of return in the business. In 2012, the government barred card companies from extracting higher fees from smaller merchants. And it also make it easier for customer to compare interest rates across products and harder for less credit worthy borrowers to spend beyond their means. As a result, many card issuing companies started to cut the budget and become more conservative in doing their card business. Alternative Solutions 1. Try to move out of the business by selling it to a suitable buyer Pros: If the company can find a suitable buyer and sell the business at a good price, once and for all, the company does not need to face the problem in the market. The proceed of selling the business may help raise substantial fund capital and enable the company to invest in other business with higher return. Cons: With the end of the credit card business era, Hyundai may suffer certain degree of reputational loss in the domestic market, people may start to worry about the future of the company, it may cause bigger problem to other core business such as the automobile business. 2. Down size the business by cutting cost Pros: The company can remain as a player in local card business, and the company can allocate additional budget to invest in other areas of business with higher return Cons: With less budget allocated, the company may start to lose the status as one of the four biggest player in Korean card business 3. Stay aggressive in card business but try harder to expand the international market Pros: While the company remains its presence in its domestic market, the company will develop more profit growing point in overseas market Cons: The uncertainty in less mature overseas market may not guarantee profit, it can also lead to unexpected loss for the company Decision Matrix Three options may be good options for different companies. For prestigious  brand name like Hyundai Motor and GE, it is always not a wise choice to come up with a solution with the aim of securing short term profit at the expense of sacrificing the brand equity. As a late comer to the card market, Hyundai card has experienced success by capturing larger market share. And the good reputation of customer satisfaction is also an important asset. Therefore there is no way for the company to sell or downsize their business. With less promising future in the local market, the company should start to concentrate to penetrate into other markets in order to develop more profit growing points and remain as a leading brand name in the credit card business. The company has the experience in automobile business in overseas and relevant expertise in Korean credit card, those are the strength that can help the company to capture the opportunities in those less mature market at the same minimizing the chance of failure. Recommendation Target Markets Mainland China, other developing South East Asia countries Positioning With its tie with the branded name in Hyundai Motor, it should position itself as one of the premium brand in the market. Marketing Mix Elements ( 4 Ps) Price: Should aim at customers at high end with high social status Product: Black and Purple card are issued for high social status people in Korea, it can also be used in other markets Promotion: Seek cooperation with branded companies such as winery, golf club,etc. Try to offer card holder with incentive using the card to purchase Place: Golf club, luxury suites Evaluation: The company should conduct effective marketing survey at least once a year to evaluate the effectiveness of marketing campaign and the overall strategy Conclusion For prestigious brand name like Hyundai Motor and GE, it is always not a wise choice to come up with a solution with the aim of securing short term profit at the expense of sacrificing the brand equity. As a late comer to the card market, Hyundai card has experienced success by capturing larger market share. And the good reputation of customer satisfaction is also an important asset. Therefore there is no way for the company to sell or downsize their business. With less promising future in the local market, the company should start to concentrate to penetrate into other markets in order to develop more profit growing points and remain as a leading brand name in the credit card business. The company has the experience in automobile business in overseas and relevant expertise in Korean credit card, those are the strength that can help the company to capture the opportunities in those less mature market at the same minimizing the chance of failure. Bibliography HyundaiCard’s Marketing Strategy, by Chan Soo Park and Ronald D. Camp II, 2009 Hyundai internet home page (http://ir.hyundaicard.com/ceh/ho/cehho0101_01.hc) http://totalidentity.com/hyundai-card-innovation-growth-activation-rebranding http://www.economist.com/news/finance-and-economics/21589470-it-getting-harder-make-money-worlds-most-prolific-card-users-swipe

Human Services Program and Profession Unit Research Paper

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Term paper Essay Example | Topics and Well Written Essays - 1750 words - 4

Term paper - Essay Example Currently, technology has developed to invent mobile phones which can access any information with convenience. As a result of easy access to information, there has been significant change in how people view information. The use of internet has not only made life more convenient but also changed the entire world. The network has become a major platform of mainstream media unlike previously when the media was just newspapers, televisions, and radio. The network has facilitated saving of resources besides availing more information in less time. Today, more and more people are able connect to people from across the world through social networks. Numerous social platforms have emerged with Facebook being the most famous. Facebook has evolved since its creation in 2004 by Zuckerburg, to become party of people’s daily lives. People access the application through laptops, computers, iPad, and smartphones. Through this application an individual can publish their real names, images, emails, relationship status, as well as birthdays. Various people have understand privacy in varying perspectives, particularly the youth. Most young people have an immature and incomplete understanding of the world. Currently, the main challenge that needs to be addressed is whether the online article about Facebook has an impact on college students’ understanding on personal confidentiality problem. Facebook offers a great platform that allows individuals to interact with more people online as well as know themselves better. However, sometimes too much personal details are exposed to the public. This excessive exposure results to too many negative consequences. Although the laws stipulates the right to freedom of expression, instances of cyber bullying, phishing, as well as, malicious slanders have increased at an alarming rate in people’s daily lives. These consequences will normally emerge since the application user’s privacy is not adequately

Critically evaluate the new developments on Destination Management Essay

Critically evaluate the new developments on Destination Management Systems - Essay Example The various stakeholders of Destination Management System includes the Destination Management Organizations containing its employees, the marketing and sales group, the product management group, the supplier of services through destination management system and, the visitors of the destination. The destination management system provides ways of increasing the service level of the DMOs to their visitors and enables them to provide a high quality experience to the tourists who visit the destinations of their choice (Kotler and Keller 45). The destination management system ensures that duplication of efforts are not done and that the management staffs of the DMOs are properly educated and trained to increase the attractions of destination tourism. Thus DMS helps to provide the sought after facilities and services at affordable price to the visitors by which the DMOs are able to attain strategic advantages in tourism. ... The online destination marketing adopted by the DMOs in the latest stage of tourism marketing have allowed the DMOs to offer an integrated portfolio of services to be catered to the customers by the use of online websites and portals of tourism (Buhalis 47). The destination management organization is able to acquaint their customers about the various characteristic features of the destination and the areas of attraction in real time mode. The online destination marketing is a form of real time destination management system that provides unbiased information on the attractive features of the destination, the public services, amenities and the modes of transport available that connects the destination. The quality of the infrastructure, human resources, hospitality and services available at the regional prices in the destination are also informed to the visitors in quick time through online destination management system. The image of the tourist place and the destinations are easily in formed to the large customer base in quick time and, therefore, plays important role to influence the customer’s decision for selecting destinations for the purpose of visit. The online destination marketing by the Destination Management Organizations could be explained as application of the marketing concepts in the digital marketing of the products and services related to destination tourism. The marketing concepts related to the new developments in the online marketing of destinations are that of customer-centricity, targeting, positioning and segmentation in order to offer benefits and facilities to the customers who plan to visit destination for a

Computer-Based Instruction Term Paper Example | Topics and Well Written Essays - 2500 words

Computer-Based Instruction - Term Paper Example This CBI technology was more advanced from the one that was used initially being used in the military and was comprised of video disc players that had been joined together with computers. One decade later, the video discs were replaced by the CD-ROM that led to the introduction of a CBI technology that enabled the production of high-quality video and audio segments that were highly compelling. CBI has proven to be an effective method of learning and teaching even during those old times when the technology was very basic and using videodiscs. There have been various studies that have been conducted primarily to ascertain the effectiveness of this training techniques. Fletcher (1990) and Kulik (1994) research studies are termed to be among the most renowned studies on this topic since they carried out in different settings like military training and education centers. According to most of these studies, computer based instruction has been proven to be more effective and less costly compared to the conventional training techniques. Similar findings were confirmed by a study that was conducted by Kulik (1998) that involved analyzing 97 studies that were comparing different classes whereby some were using CBI with others applying the traditional techniques of teaching However, the first reported use of the Computer Based Instruction was made in 9157with the first successful use of computer-based instruction and in particular multimedia delivery device being introduced in the early 1980s (Shlechter, 1991).

Downside Risk to Real Estate Essay Example | Topics and Well Written Essays - 5250 words

Downside Risk to Real Estate - Essay Example The analysis includes independent variables drawn from a database and includes variables to adjust results for the impact of macroeconomic factors. In addition, indexes for the broader markets are identified and included in the regressions to adjust for the impact of trends in the general market. Investment in Listed Property Trusts (LPTs) or Real Estate Investment Trusts (REITs) has traditionally considered risk as an important factor. Numerous studies on risk have also demonstrated that REIT's financial condition and management structure have implications for its risk. Most of these studies have utilised the cross-sectional difference of REIT financial conditions and REIT management structure in estimating the relationship between these variables and risk. A REIT's risk is measured by the beta coefficient in the Capital Asset Pricing Model (CAPM) in which it is measured in a variance framework. However, the appropriateness of using CAPM in particular the use of beta as risk measure has been debated in recent years. In fact, several studies suggest downside systematic risk (downside beta) is comparatively better than systematic risk for measuring market-related risk for an asset in line with the theoretical superiorities of downside risk. Downside risk was first introduced by Roy (1952) primarily based on the safety first rule. It appears as a more intuitively appealing and secure risk measure compared to variance for several reasons such as downside risk does not require an assumption about the return distribution of an asset; it is more consistent with the investor's expected utility function and combining information provided by variance and skewness into one measure (Nawrocki, 1999, Estrada, 2002). Hogan and Warren (1974) and Bawa and Linderberg (1977) also demonstrated that downside risk (lower partial moment) can be generalised into CAPM and they developed a Mean-lower Partial Moment Capital Asset Pricing Model (MLPM-CAPM). The results from Price

Women language Essay Example for Free

Women language Essay One of the debates which is of long standing within the study of linguistics is concerned with whether women speak in a language and perceive situations in a manner significantly different from that of men. Many theorists both feminists and anti-feminists have attempted to prove that women do indeed speak in a different way from men; and that there is such a thing as the â€Å"women language†. The debate attempts to place in context matters such as sex differences in linguistic behavior at the level of phonology and to a lesser extent grammar. The concepts upon which the debate has been built however reflect, to a greater or lesser extent, the influence of feminism over the past two decades. Feminism has fore grounded issues of gender differences and male domination in society; it has prompted a concern with putting women ‘on the map’ and a critical reappraisal of feminist and non-feminist research. The discussions on gender linguistics therefore focus on the feminist projects of ‘redressing the balance’, as manifested in the academic field of languages. Phonology Cognitive research on gender differences has drawn interest from linguistic experts and language scholars. Holmes and Meyeroff (2003, p. 144), the research more often than not directs itself to the hypothesis that women posses much better verbal skills than men. Most of the studies have drawn the conclusion that there are in fact differences based on gender, in verbal performance and verbal cognitive processing. It is often believed that females are far better in reading and posses much stronger language acquisition skills than males. Many scholars equate this probability to the phonological superiority possessed by women, (Christie 2002, p. 102). The difference in phonological ability is often attributed by some researchers and scholars to the structure of the brain which in this case favors the female. Studies suggest that the left hemisphere of the brain which is much more developed in males is superior in mathematical and scientific processing and analysis (direct speech). On the other hand the right hemisphere (much highly developed) in females is much more superior in word structure, grammar recognition and verbalization (indirect speech), (Christie 2002, p. 104). However the evidence provided to support this theory has often drawn inconsistent results making it much difficult to prove. Another school of researchers in linguistics suggests that culture is the main foundation for any form of language processing and development. For this school of scholars the role of women as caregivers in society makes them much more sensitive in their speech structure and verbalization. They know that they must be more knowledgeable in the different aspects of language and speech, (Holmes and Meyerhoff 2003, p. 142). The women are the first teachers for the child and therefore they take much more time to understand the speech techniques and pronunciation so they can be able to direct the children much easily. The men’s social role as providers on the other hand, pre-disposes them to poor performance in reading, sounds and sentence structure. This means that women easily develop direct and indirect speech much easily than men. Men are much better at direct speech. Use of Slang In historical society and the study of linguistics, women have been given the conservative linguistic role while men are often considered much more creative, and innovative in their language use. In traditional societies, subordination of women denied them the chance to use creative, innovative language that violated the speech protocol. It is from this perspective that many scholars develop the notion that women are less likely to develop â€Å"slang† or terms considered as â€Å"slang† in their speech. Medieval society put in place taboos and regulations that denied women the chance to distort conventional language regulations. Women had to use respectable language, refrain from swearing and insults; and use properly structured words and sentences. Grammatical errors and poor pronunciations were frowned upon, a woman’s speech was considered a reflection of her character and conduct, (Christie, 2000, p. 154). Surprisingly this practice is still present in today’s modernized society. We all have a tendency to judge and draw conclusions regarding an individual’s character from their command of conventional language, moreso women. Although there is no evidence that the use of ‘slang’ is more predominant in a specific gender than the other; it is found that men revert to the use of ‘slang’ terminologies much more easily than women. Even when women are influenced by the use of ‘slang’ and they incorporate ‘slang’ terminologies in their speech, the difference can be seen from the choice of terminologies. Women tend to use more euphemistic terminologies, while men apply complete use of ‘slang’ vocabulary. Use of Polite Speech In any form of communication, the speaker often hopes to get respect from his audience or the people he is speaking to. The difference in language and speech comes from how the women and men perceive respect. While the men view fear and admirations as forms of respect, women view agreement, generosity and sympathy as the measures of respect. Socio-linguists use this reason to explain why women are much more pre-disposed to the use of polite language than men. The mutual agreement is that women find polite language to be much more productive than men who prefer aggressive terms. Men are socialized by society to use rougher and more commanding language than women. Women on the hand are required to â€Å"act like ladies†, be respectable and meek. Coates (1998, p. 87) women are much more likely to use polite words such as please, excuse me and thank you than men. Women identify with the lesser classes and the abused or misused, and find it natural to appreciate others. Men on the other hand are socialized to demand action, appreciation and praise especially from women. Though being male does not necessarily mean that one is rude and arrogant, it does mean that the person is less likely to say please or thank you. In written literature, feminist scholars have often insinuated that female writers have developed what is known as the â€Å"female sentence†, which is structured to appeal to the polite nature of the female reader as well as the writer. Women are socialized to be much more submissive, as young girls for example sharing use of polite language and general respect to others is applauded. On the other hand boys are encouraged to be much more aggressive and demanding. It is this form of socialization rather than the biological composition of gender that linguists believe conditions women to be much more polite than men. Conversation Dominance A study conducted in 1975 by psychologist and linguist Zimmerman and West, based on a turn taking conversation model revealed that men are much more likely to dominate a conversation through interruption than females, (as quoted in Coates 1998,p. 161). Men feel the need to be dominant in all areas of their life, always commanding the full attention of others. They employ strategies such as interruption, questions in the middle of sentences and change of topics to maintain the dominance of the conversation. Men are well versed in strategies such as ‘no response’, interrupting, poor and inadequate responses and silence employed to change the path of the conversation to what suits them best. Eckert and McConnell- Ginnet (2003, p. 121) state that women may resort to arguments and shouting much easily when ignored, but they also tend to calm and compromise easily. However men are much more adamant, they can become completely uncooperative when ignored. While women have a tendency to imply what they would like to address or their wants and needs, men just tend to come out and directly demand what they want. Men are more confident with voicing their own needs even when they are infringing on some one else’s needs and time. As children parents and the society in general socializes the young girl to be more compromising allowing the male to get the attention they seem to thrive on. The male on the other hand is socialized to fight for and demand this attention. Conclusion The analysis of language and speech in gender provides a reflection of the cultural roles and status in society. The biological composition of each sex is less important in the development of language as compared to the socialization patterns utilized by different cultures. In general women are much more likely to develop subjective language and speech, easily influenced by the people they are speaking to. Men however are much more technical and object oriented in their language and speech, incorporating as little emotion as they can. To understand the difference in speech and language between men and women, one must first understand the gender roles and status defined by specific cultures. Works Cited 1. Christie Christine. Gender and Language: Towards Feminist Pragmatics. Edinburgh. Edinburgh University Press . 2000. 2. Coates Jennifer. Language and Gender: A Reader. Massachusetts. Blackwell Publishing 1998. 3. Eckert Penelope and McConnell -Ginet Sally. Language and Gender. United Kingdom. Cambridge University Press. 2003 4. Holmes Janet and Meyerhoff Miriam. Handbook of Language and Gender. Massachusetts. Blackwell Publishers. 2003.