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SDFHyundai Gains with Marketing Blitz The weakness of Koreas currency benefits the carmaker. It has poured millions into high-profile ads that are helping it draw market share By Moon Ihlwan and David Kiley think Items Hyundai Aims to Charm U.S. Drivers with New Sonata Story Tools E-mailPrint Comment 0diggsdiggadd to Business Exchange linkedin connectionslinkedin connectionsFour eld before swimming sensation Michael Phelps won his eighth cash medal at the 2008 Beijing Olympics, Hyundai Motor Americas merchandise director, Joel Ewanick, got a phone call from the South Korean automakers U.S. media buyer. If you want to be the first ad up later on Phelps raises his arms in victory, you can have it, but I have to know this minute, Ewanick recalls of his conversation with Tim Spengler, president of New Yorks first step USA. I approved it on the phone without checking with anyone, Ewanick adds. Hyundai Motors $1 million-plus Olympics ad marked the start of a marketing safety blitz by the Korean automaker. Fueled by Koreas cheap currency, the commove has intensified since the auto industry fell into its deep slump. Hyundai has gained a price and profit advantage against its Japanese, European, and U.S. rivals as the won has atrophied 23% against the U.S.

dollar since January 2008. That means cheaper production costs in Korea and higher profits when Hyundai converts dollars from U.S. sales to won. The connection has channeled much of its miraculous food into promotional activities. There has been a close correlation mingled with a jump in Hyundais marketing expense and a fall in the won, says Suh Sung Moon, an auto analyst at Seoul brokerage Korea Investment & Securities. Hyundai has been struggling for years to wag its cheap-car image even though it has invested $6.5 billion to improve timberland over the past five years and plans to keep spending 5% of its revenues on R&D annually. Now the company is taking advantage of the weakness of its... If you want to get a full essay, order it on our website: Ordercustompaper.com

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