February 8, 2009

Hyundai - A BE DiFFERENT Approach

I was very interested to read recently about the Hyundai Assurance Program developed to specifically respond to, among other things, these tough recessionary times.

Their plan is quite straightforward. It’s promotion material states ‘Hyundai is the first automaker in the U.S to offer a vehicle return program that allows you to walk away from your loan or lease without having to worry about negative equity. It lets you return your vehicle in case of certain life-altering circumstances. That’s the Hyundai Assurance’.

Brilliant. It recognizes that people run into unforeseen events (losing a job, physical disability, international employment transfer self-employed personal bankruptcy and accidental death) and offers a solution to make it easier to purchase a Hyundai.

No question that this is a BE DiFFERENT move! How long do you think it will take for the others to copy it? First of all they aren’t that quick and second they should try to outdo the Hyundai move rather than duplicate it. In this case a copy strategy will not close the BE DiFFERENT gap between Hyundai and its competition, it would merely bring them up to Hyundai’s level and allow Hyndai to move ahead again.Being good at copying is NOT a winning strategy.

Well done Hyundai and we’ll wait to see what other automakers respond with (don’t hold your breath). Cheers

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Posted 2.8.09 at 01:02 pm by Roy Osing | Read Comments (0) | Leave a Comment