Special promotion opens tight purse

Under the current economic situation, consumer confidence has fallen, how to open their tight money bags? At the beginning of the year, Hyundai Motor launched a bold innovative promotion strategy in the United States, and achieved good results.

If you don’t have enough money and want to own your own car, what should I do? The answer is simple: installment payments. However, in the case of the economic crisis, if it is unemployed, even the installment payment will be powerless. What should we do?

Hyundai Motor has given these consumers a reassurance: "If you buy a car and lose your job within one year, you can return it." "Customers are unemployed, we will pay 3 months instalments." At the beginning of 2009, Hyundai Motor began to launch bold innovation promotion strategies in the United States in response to the current economic situation, which surprised the parties.

The US market has always been the focus of Hyundai. Recently, this advertiser has an extraordinary momentum, sprinkled millions of dollars, and publicized the new car during the Super Bowl gold advertising period, or the car advertiser at the Oscar Awards Ceremony in February. The Americans were so impressed during the economic downturn that they impressed the Americans. But even more impressive, it should be the "unemployed refund" marketing strategy launched this time.

The behind-the-scenes figure who came up with this singularity is Li Bingyan, who is known as the "Marketing Wizards" in Hyundai-Kia Motors. He is currently the head of the American Sales Corporation (HMA) of Hyundai Motor. He was called by Zheng Mengjiu, chairman of Hyundai Motors, as the "people who use marketing to sell cars."

This time, in order to break through the trend, Li Bingzhen led the team in early January to launch the "Hyundai Assurance" system that was unheard of and surprised by all walks of life. After the implementation of this system, it was quickly welcomed by consumers. According to the sales system, if a car owner fails to repay the car loan installment due to unemployment and layoffs within one year after purchasing the Hyundai Motor, he can choose to return the car to the car company. Get a refund from the relative amount of Hyundai's car, instead of being caught in the embarrassment of bank calls.

In addition, this car purchase system has an "additional project." If the customer is unable to pay the installment payment after being unemployed, Hyundai can pay for it for 3 months. However, if you still have to return the car after accepting the three-month payment offer, the company will only bear the remaining amount after the higher depreciation fee is deducted. For example, the monthly installment payment is $1,000, and the company pays $3,000 for three months. After the car is mainly retired, the company will deduct $3,000 from the depreciation price of $7,500 and pay the owner $4,500. The "additional project" is subject to a limited trial operation, and the activity period is from February 23 to the end of April.

For the additional project, an HMA person who asked for anonymity explained: “The customer lost his job after buying a car and asked to return the car, but he found the job again within three months. We have encountered many such examples. 'It is in the form of helping the transition to replace the customer to pay the installment during the unemployment period."

There is no doubt that Hyundai’s car-purchasing system will allow those who are hesitant – they have the demand for car purchases, but they are worried about the possible unemployment crisis – to eat a “reassurance”. Modern car related people pointed out that during the recession, everyone tightened their belts and the new car was less popular. One of the main reasons for the sharp decline in new car sales last year was the decline in consumer confidence. Therefore, past consistent promotional techniques, such as low-interest loans or cash dividends, have little effect on stimulating sales. The chairman of Hyundai, who is in charge of the US market, said: "Many people are very upset about the future economic situation. Our promotion plan is designed for this."

Of course, Hyundai Motor also considers the risk of continued deterioration of the economy and the large number of new owners returning to the car. At present, it has cooperated with insurance companies and risk sharing. If there is a return, Hyundai can get a higher 7500 from the insurance company according to the model. Depreciation of the car for the dollar to reduce the risk of loss alone.

In January, Hyundai Motor's sales in the global market fell by 27%, while in the US, sales data showed a rare red-chip situation. As of February 25, Hyundai Motor's sales increased by about 10% compared with the same period last year. The “Modern Auto Guarantee Scheme” promotion measures achieved good results.

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