honda mid segment sedan brand equity market research
DESCRIPTION
An academic project undertaken to Measure Customer Based Brand Equity of Honda Cars against its competitors(Mid-Segment Sedan). Market Research Objectives are as follows: 1.Conducted market research to identify the sources of Customer Based Brand Equity for Honda in the mid-segment sedan range. 2.Measured the Customer Based Brand Equity of Honda relative to Volkswagen and Toyota in the mid-segment sedan range.TRANSCRIPT
BRAND EQUITY
Agenda
Company at a Glance
Objective
Scope of the Project
Methodology
Findings
Conclusion & Recommendations
Company at a Glance
Head Office Tokyo Japan
Established September 24, 1948
Product Portfolio : Small Cars , Mid-Segment Sedans , High-Range Vehicles
Valued at $19.4bn by “InterBrand” and Brand Ranking 19
Won Best Resale Value Award, Best Residual Award, Greenest Vehicle Award, Greenest Automaker in 2011-12
Objective
•To identify the sources of Brand Equity for Honda
•To measure the Brand Equity of Honda relative to competitors.
Scope of the Study
For our study we have taken into account Honda
Sedan Cars belonging to mid segment.
Considered only the sources of Customer
Based Brand Equity.
Study is limited to Indian market
context.
Methodology
Qualitative Survey
Identified Sources of Brand Equity & Questionnaire Design
Quantitative Analysis
Depth Interviews
Sources of Brand Equity
Brand Awareness
Loyalty
Perceived Quality
Brand Associations
Market Behavior
1.Top of the mind recall
2.Brand Recall
1.Price Premium
2.Customer Satisfaction
1.Quality
2.Leadership
1.Value for Money
2.Brand Personality
Sampling
Sample Size : 50
17, 34%
7, 14%
26, 52% Honda
Switchers
Non-Customers
Top of the Mind Recall
What is the first car brand you think of in mid range sedan segment?
16
10
17
7
0
5
10
15
20
Hyundai Toyota Honda Others
Respondents
Respondents
Un-Aided Brand Recall
Identify the logo
39
11
0
5
10
15
20
25
30
35
40
45
Identified Not Identified
Respondents
Price Premium
Are u willing to pay a price premium For Honda City over Toyota Corolla?
How much Price Premium are you willing to pay for a Honda?
79%
21%
Yes
No
2
8 7
1 1 0
2
4
6
8
10
0-50k 50k-100k 100k-150k 150k-200k 200k+
How much Premium?
Customer Satisfaction Were you satisfied with the level of Customer Service provided By Honda?
Would you recommend Honda cars to others?
15
2
4
3
0
2
4
6
8
10
12
14
16
Satisifed Dissatisfied Satisifed Dissatisfied
Current Honda Customers Past Honda Customers
Series1
63% 8%
29%
0%
Chart Title
Current HondaCustomers Yes
Current HondaCustomers No
Past HondaCustomers Yes
Past HondaCustomers No
Perceived Quality
Rate the following Brands : Honda, Volkswagen & Toyota on a scale of 1-5 on Quality.(Appropriate Frame of reference was provided)
4.08
3.86
3.48
3
3.2
3.4
3.6
3.8
4
4.2
Honda Toyota Volkswagen
Quality
Quality
Leadership/Popularity
Rate the following On a scale of 1-5 which is the most Innovative Brand amongst the following : Toyota ,Honda & Volkswagen?
Which according to you is the most popular Brand of Cars in the range of 8-12 lac amongst the following :Toyota ,Honda & Volkswagen?
3.88
3.48
3.58
3.2
3.3
3.4
3.5
3.6
3.7
3.8
3.9
4
Honda Toyota Volkswagen
Innovation
0 10 20 30
Volkswagen
Toyota
Honda
Value for Money
Rate the following Brands : Honda, Volkswagen & Toyota on a scale of 1-5 on Value for Money
3.54
3.86
3.4
3.1
3.2
3.3
3.4
3.5
3.6
3.7
3.8
3.9
Honda Toyota Volkswagen
Value for Money
Brand Personality
Which Words do you associate with Honda Cars ?
Status
Class
Excellent
Driving
Experience
Luxury
Trustworthy
Conclusion
Brand Awareness -78%
Customer Satisfaction - 79.2%
People willing to recommend the Brand - 92%
Net Promoter Score - 92%-8%=84%
Ranks High on Quality & Innovation
High Popularity
Ranks 2nd on Value for money
Brand Health
Brand Strength
Customer Satisfaction
Quality Innovation
Brand Stature
High Awareness
Strong Association to Prestige & Luxury
Recommendations
Mass Media Marketing
Brand Ambassador for Brio
Launch Diesel variants
More product options